Share buyback policy
13 11월 2008 - 8:31PM
UK Regulatory
Share buyback policy
Pennine AIM VCT 6 plc
13 November 2008
Shareholders will be aware that, as stated in the prospectus
published in October 2005, it is the Company's intention to return
30p per share to shareholders by way of dividends and/or a tender
offer by 31 July 2009 ("30p Return").
In planning the 30p Return, the Board has been monitoring the
Company's cash projections and is aware that, in the current market
conditions, liquidity of many of the Company's AIM-quoted investments
is very weak.
To date, subject to close periods, the Company has generally operated
a policy of buying in its own shares that become available in the
market at approximately 10% discount to its latest net asset value.
The Company is now in a close period while it prepares its year end
results and so is effectively currently prohibited from buying in its
own shares.
In order to be able to pay the 30p Return without the need to make
any substantial realisations of AIM-quoted investments, the Board has
decided to conserve cash by suspending its share buyback policy until
the after 30p Return has been paid.
The Board will continue to monitor the situation and will review the
policy once the 30p Return has been paid.
---END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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