Oakley Capital Investments (OCI) has launched a recurring share buyback programme worth at least £20m and ditched its long-term dividend policy.
In a London Stock Exchange notice today (24 March), OCI's board said the decision reflects its "confidence in the net asset value (NAV) and its belief that the shares are grossly undervalued". Shares in the trust are currently trading at 460p, MarketWatch data reveals, with the vehicle currently sat on a 34.4% discount, according to data from the Association of Investment Companies. Pembroke VCT to raise up to £60m in latest funding round The minimum £20m share buyback will not be the first time OCI has purchased its own shares, having acquired and cancelled £72m worth of shares ...
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