Global Smaller Companies Trust restates share buyback authority

Global Smaller Companies Trust PLC has restated its share buyback authority after its Annual General Meeting held in London. The Company has been granted permission to repurchase up to 61,398,059 of its ordinary shares. This authority will remain in effect until the next Annual General Meeting or until December 15, 2027, whichever comes first, unless modified, revoked, or renewed before that date.

The Board anticipates renewing this authority annually, with similar notifications expected at each renewal. Share buybacks can be financed using the Company's cash reserves or through short-term loans. The highest price that can be paid per share, not including expenses, should not exceed 105% of the average middle market quotations for the five days leading up to the purchase or the higher of the last independent trade price and the most recent independent bid on the London Stock Exchange at the time of purchase.

The shares bought back will either be placed in treasury or canceled. Investec Bank plc has been appointed as the broker for these buyback transactions, to be conducted according to the Company's discount control policy. This buyback arrangement adheres to Chapter 9 of the UK Listing Rules and the Company's general authority to repurchase shares. The article was produced with AI assistance and edited by a human.