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Pantheon International PLC - Exeter, England-based private equity investment trust - Updates on step three of its corporate strategy programme, aimed at boosting demand for its shares and narrowing its discount. Says plan includes more consistent investment through cycles, an enhanced capital allocation approach with a flexible share buyback pool, and proactive use of gearing. Intends to sell assets more strategically to optimise its portfolio.
Allocates 20% of gross distributions to buyback pool, with repurchases triggered when discount exceeds 20%. Notes £30 million already allocated to buybacks in the current financial year. Adds it steps up marketing to target new investor groups, including advisers and retail investors, with a refreshed brand and new website launching in October.
Chair John Singer says: ‘We are now ready to implement a number of tactical changes which we believe, when taken together, will further strengthen the company balance sheet and improve PIN’s long-term NAV performance.’
Current stock price: 334.50 pence
12-month change: up 7.6%
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