Ruffer Investment Company has set out the reasons for its first ever buyback scheme since its inception in 2004.
In the trust's annual results for the year ended 30 June 2023, published today (4 October), chair Christopher Russell explained that following the share price falling to a discount in the second half of the year, RIC decided to buy back 150,000 shares at an average price of £2.6325. Ruffer makes first ever buyback in near 20-year history amid poor performance Directors sought shareholder permission at the annual general meeting in December 2022 to do so, as they do every year. Shareholders voted 100% in favour, giving the directors the ability to repurchase up to 14.99% of the issued ...
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