Hadrian's Wall Secured Invs.Ltd Transaction in Own Shares (2476H)

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RNS Number : 2476H

Hadrian's Wall Secured Invs.Ltd

30 July 2019

30 July 2019

Hadrian's Wall Secured Investments Limited

Transaction in own shares

Hadrian's Wall Secured Investments Limited (the "Company") has today repurchased 670,796 ordinary shares of no par value (the "Shares") at 80.0 pence per Share to be held in treasury. Following this repurchase the Company has 144,499,667 Shares in issue, excluding 670,796 Shares held in treasury. The Company has 144,499,667 total voting rights.

The Board has recently become aware of an overhang of Shares in the market and notes the recent deterioration in the Company's Share price. In light of the wide discount to NAV at which the Shares have been trading and the Company having available to it a limited amount of surplus cash, the Board decided to buy back those Shares available at the prevailing market price. This Share buyback will be accretive to the NAV per Share and the Board believes that it represents a good use of cash at the prevailing discount. The Board, however, notes that the Company remains fully invested and the ability to undertake any further buybacks is dependent, amongst other things, on the Company's cash position and the market in the Shares.

Contact Details

Hadrian's Wall Capital Limited (Investment Adviser)

Ron Miao / Mike Schozer

Telephone [phone]

Winterflood Investment Trusts (Corporate Broker)

Joe Winkley / Neil Morgan

Telephone [phone]

LEI: 213800ABN7VKMVNOLG14

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July 30, 2019 10:28 ET (14:28 GMT)