GRIT Investment Trust PLC Temporary Suspension of listing

RNS Number : 5686H

GRIT Investment Trust PLC

20 March 2024

 

For immediate release                                                                                                    20 March 2024

 

GRIT Investment Trust plc

("GRIT" or "the Company")

Temporary suspension of listing

 

GRIT Investment Trust Plc (LSE: GRIT) announces that given that the Company is currently unable to meet its ongoing obligations as a closed-ended investment fund under Listing Rule 15 due to its present investing policy no longer satisfying the requirement to invest and manage its assets in a way which is consistent with its object of spreading investment risk, it has requested that the listing in its shares be temporarily suspended with effect from 07.30 this morning, Wednesday 20 March 2024.

It is anticipated that the suspension will be lifted under Listing Rule 15.4.9 if the Company decides to continue as a closed-ended investment fund and when it has submitted any proposed material change to its published investment policy to the Financial Conduct Authority for approval and has thereafter gained shareholder  approval. 

Alternatively, in the event that the Company enters into a transaction which constitutes a reverse takeover, the Company would under Listing Rule 5.6 seek a cancellation of the existing listing and the admission to listing of the Company on effective completion of that reverse transaction ("Re-admission") and would publish a prospectus in support of its application. 

This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

  

Enquiries:

GRIT Investment Trust plc

Tel: [phone]

 

Peterhouse Capital Limited (Broker)

Heena Karani and Duncan Vasey

Tel: [phone]

 

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