FSA proposes 10% limit on in treasury shares

Professional Adviser
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The FSA has proposed to limit the amount of shares investment trusts may be allowed to hold in treas...

The FSA has proposed to limit the amount of shares investment trusts may be allowed to hold in treasury to 10% of the issued capital. The limit was one of the changes the regulator has proposed making to the Listing Rules in order to allow investment trusts to hold bought-back shares in treasury rather than cancelling them. In Consultation Paper 182, the FSA said the value of shares held in treasury may not exceed 10% of the issued share capital. Or, where the company's share capital is divided into shares of different classes, it may not exceed 10% of the nominal value of each class. ...

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