New Star Investment Trust PLC Proposes Capital Return

New Star Investment Trust PLC (NSI) has announced a proposed return of capital to its shareholders. The Board plans to distribute £17,045,687 through a B share scheme.

The procedure will involve issuing one new B share per ordinary share, which will be redeemed for cash. Shareholder approval is required and the General Meeting will take place on 24 July 2024. If approved, the proceeds will be approximately 24 pence per share, to be paid on or before 8 August 2024.

Details and the rationale for the Return of Capital will be provided in a circular expected to be published on 28 June 2024. The meeting to discuss the proposal is set for 24 July 2024 at the company's London office.