RSS Feed

Related Articles

Related Categories

F&C Capital and Income Investment Trust to issue further shares

8th October 2009 Print
At an Extraordinary General Meeting (EGM) on 6 October, F&C Capital and Income Investment Trust passed a resolution to allow it to issue up to 4,541,427 further shares (equivalent to 5.44% of the Company's share capital at 9 September 2009).

The new shares will allow F&C Capital and Income Investment Trust to meet the demand for its shares both through F&C's investment trust savings schemes and from the wider market.

The resolution to issue the extra shares was passed overwhelmingly, with 94.4% of the votes cast being in favour of the resolution.

The new shares, which have a nominal value of £1,135,356, will be issued on a non-pre-emptive basis, as and when they are required. They will only be issued at a premium to net asset value, to ensure value is not diluted for existing shareholders. The authority to issue new shares will run until the Company's next AGM, or until 15 April 2010 if that is sooner.

Mike Woodward, head of investment trusts at F&C Investments, commented: "We are very pleased this issue of further shares has been approved by the shareholders of F&C Capital and Income Investment Trust. It will enable us to meet the needs of our existing planholders as well as allowing more investors to buy into this investment trust."

F&C Capital and Income Investment Trust invests mainly in UK blue-chip shares and has a yield greater than the UK stockmarket. It pays dividends four times a year. It began life in 1992 as the F&C PEP Investment Trust and has a high proportion of regular investors through F&C's savings schemes on its register.