POLAR CAPITAL TECH

The company sets the price for the buyback offer at 425.61 pence per ordinary share, based on the NAV as at 27 November less pro rata costs. Of 121,270,000 eligible shares, 27,253,026 shares (22.47% of issued capital excluding own shares) were validly tendered and will be purchased as own shares. The buyback is scheduled for 2 December; funds are expected to be credited to CREST accounts by 5 December, and physical shareholders will receive cheques by 12 December. Tendered shares may be reissued on short notice at a premium to the buyback price but possibly at a discount to the NAV. » More on de.investing.com

The board of Polar Capital Global Healthcare Trust plans to abolish the current fixed-term structure and instead offer shareholders a full buyback up to 31 March 2031 and thereafter every five years. The restructuring is to be proposed ahead of the annual general meeting in early 2026; consultations with major shareholders have reportedly met with positive feedback. The investment strategy remains focused on long-term capital growth with a multi-cap approach; changes mainly affect fees: the performance fee will be removed in favour of a tiered management fee of 0.70% on the first £500m and 0.65% thereafter. Other aspects, such as dividend policy and a maximum gearing limit of 15% of NAV, remain largely unchanged. » More on de.investing.com

At the 29th annual general meeting, shareholders of Polar Capital Technology Trust voted with around 87% of the votes cast in favour of continuing the company as an investment trust. Other resolutions were also passed, including the re-election of five board members, the election of Ms Ighodaro as a new director, and the approval of the annual report and remuneration report. The trust was granted authorities to issue and repurchase ordinary shares, KPMG LLP was reappointed as auditor, and the portfolio managers presented the investment performance. » More on de.investing.com