Multiple UK Investment Funds Repurchase Own Shares in Treasury

Between 27 and 30 October 2025 a number of UK-listed funds and companies carried out market purchases or cancellations of their own shares, primarily to hold in treasury or to cancel, altering issued share capital and total voting rights used for FCA Disclosure Guidance and Transparency Rules calculations. Schroder group activity included Schroder Japan Trust plc buying 45,000 shares at 297.452511p (now issued 118,453,286; treasury 3,752,655; voting rights 114,700,631), Schroder UK Mid Cap Fund plc buying 20,000 shares at 706p (issued 36,143,690; treasury 2,085,500; voting rights 34,058,190), and Schroder Oriental Income Fund Limited buying 150,000 shares at 338p (issued 271,233,024; treasury 43,624,183; voting rights 227,608,841). Pacific Horizon (per the RNS notice) purchased 100,000 ordinary shares at 789.64p to be held in treasury, bringing treasury to 8,375,092 and leaving 83,699,869 shares in issue excluding treasury. Avation PLC repurchased 490,000 shares on 29 October at 154.85p to treasury, leaving 66,636,738 shares in issue with 2,205,000 in treasury and total voting rights of 64,431,738. The Bankers Investment Trust plc bought 380,000 shares at 132.1879p and 20,100 at 132.2p on 28 October (to be held in treasury), leaving issued capital at 1,315,102,830 with 320,026,976 (24.3%) held in treasury and 995,075,854 voting rights; Utilico Emerging Markets Trust plc cancelled 28,000 shares at ~256.55p leaving 179,664,391 voting-rights-bearing shares in issue; and Crystal Amber Fund Limited cancelled 75,000 shares at £1.48 leaving 84,623,762 shares in issue and 62,817,347 voting rights.