Ruffer trust launches tap issue

The £332.1m Ruffer investment company has announced a tap issue of 100,000 redeemable participating preference shares of £0.01 each, at a price of 216p per share.

Following the allotment of these shares, the company said it will also have the ability to issue a further 12,756,342 shares under its block listing facility. The trust said: "The total number of voting rights in the company is now 155,338,416 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to, their interest in the company under the FSA's Disclosure and Transparency Rules." Run by Hamish Baillie and Steve Russell, the trust has returned 7.5% over the past year, compare...