Downing One VCT plc commences an Equity Buyback Plan for 1,612,427 F Shares, 1,995,073 H Shares and 1,590,654 J Shares, representing 14.99% of the issued share capital, under the authorization approved on September 15, 2020.
September 30, 2020 at 12:00 am
Share
Downing One VCT plc (LSE:DDV1) commences share repurchases on September 30, 2019, under the program mandated by the shareholders in the Annual General Meeting held on August 29, 2019. As per the mandate, the company is authorized to repurchase up to 1,612,427 F Shares, 1,995,073 H Shares and 1,590,654 J Shares, representing 14.9% of the issued share capital. The maximum price which may be paid for an ordinary share is an amount equal to 5% of the average of the middle market quotations for the ordinary shares taken from the London Stock Exchange plc Daily Official List for five business days immediately preceding the day on which that Share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time. The minimum price which may be paid for an ordinary share is 1p. The program will be valid till the next Annual General Meeting in 2021, or 15 months from the passing of this resolution, whichever is earlier. As at August 29, 2020, the company had 10,821,660 F Shares, 13,389,758 H Share and 10,675,533 J Shares in issue.
Thames Ventures VCT 1 PLC is a United Kingdom-based venture capital trust (VCT). The investment objective of the Company is to provide private investors with attractive returns from a portfolio of investments in unquoted companies, including the existing alternative investment market (AIM) and Aquis Stock Exchange (AQSE) Growth Market quoted companies in the United Kingdom. It provides attractive returns from a portfolio of investments comprising almost 100 quoted and unquoted companies, across a diverse range of sectors in both the growth and yield-focused categories. The Company has only one class of business and its investments are made in shares, securities, and bank deposits. Its portfolio of investment includes sectors, such as enterprise, healthcare, consumer, and deep technology. The Companyâs investment advisor is Foresight Group LLP.
Downing One VCT plc commences an Equity Buyback Plan for 1,612,427 F Shares, 1,995,073 H Shares and 1,590,654 J Shares, representing 14.99% of the issued share capital, under the authorization approved on September 15, 2020.