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Rights & Issues Investment Trust PLC - Essex, England-based investor in smaller UK companies - Announces it intends to make a tender offer equal to 10% of its share capital at a price equal to 96% of the net asset value of the shares on the date of the tender. Details of the tender offer are expected to be sent to shareholders by the end of July, it adds.
Rights & Issues also announces that Investment Director Simon Knott will retire from September 1. He will continue as non-executive director of the company. In addition, the company appoints Jupiter Unit Trust Managers Ltd as its new investment manager from September 1.
Current stock price: 2,258.80 pence
12-month change: down 11%
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