Pantheon International (PIP) has appointed Investec Bank and J.P. Morgan Securities to buy back its shares under an ongoing share buyback programme announced last summer.
In a stock exchange notice today (7 June), the £2.3bn private equity trust said the brokers would carry out the buyback programme at 6.7p per ordinary share. As announced last month, the buybacks will be dependent on net cash flows and level of discount, which will be calculated on a quarterly basis. Under the authority granted to PIP by its shareholders, it has the ability to repurchase up to 14.99%. It currently has remaining authority to buy back up to around 67 million shares before the next annual general meeting in October, the FTSE 250 trust noted. Pantheon International plans ...
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