Hadrian's Wall Secured Invs.Ltd Transaction in Own Shares (2476H)
31 July 2019 - 12:28AM
UK Regulatory
TIDMHWSL TIDMHWSC
RNS Number : 2476H
Hadrian's Wall Secured Invs.Ltd
30 July 2019
30 July 2019
Hadrian's Wall Secured Investments Limited
Transaction in own shares
Hadrian's Wall Secured Investments Limited (the "Company") has
today repurchased 670,796 ordinary shares of no par value (the
"Shares") at 80.0 pence per Share to be held in treasury. Following
this repurchase the Company has 144,499,667 Shares in issue,
excluding 670,796 Shares held in treasury. The Company has
144,499,667 total voting rights.
The Board has recently become aware of an overhang of Shares in
the market and notes the recent deterioration in the Company's
Share price. In light of the wide discount to NAV at which the
Shares have been trading and the Company having available to it a
limited amount of surplus cash, the Board decided to buy back those
Shares available at the prevailing market price. This Share buyback
will be accretive to the NAV per Share and the Board believes that
it represents a good use of cash at the prevailing discount. The
Board, however, notes that the Company remains fully invested and
the ability to undertake any further buybacks is dependent, amongst
other things, on the Company's cash position and the market in the
Shares.
Contact Details
Hadrian's Wall Capital Limited (Investment Adviser)
Ron Miao / Mike Schozer
Telephone 020 3026 8620
Winterflood Investment Trusts (Corporate Broker)
Joe Winkley / Neil Morgan
Telephone 020 3100 0000
LEI: 213800ABN7VKMVNOLG14
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END
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