NY PERSHING SQUARE: Pershing Square Holdings, Ltd. Issues 2019 Annual Report and Financial Statements, Announces Annual Gener...
April 07 2020 - 2:00AM
UK Regulatory
TIDMPSH
Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) today
issued the PSH annual report and financial statements for the year
ended 31 December 2019 which are now available on PSH's website,
https://www.pershingsquareholdings.com/company-reports/financial-statements/.
PSH also announced an additional share buyback program (the
"Program") for $100,000,000 of PSH's outstanding Public Shares on
the London Stock Exchange and Euronext Amsterdam. The Program will
commence following the completion of the previously announced
$100,000,000 share buyback program. The Program is accretive to NAV
per share and will reduce PSH's capital.
As of 6 April 2020, PSH had completed 93.9% of the previously
announced $100,000,000 share buyback program. PSH commenced that
program on 16 January 2020 and has repurchased a total of 5,202,951
PSH Public Shares at an average price of $18.04.
Since PSH commenced its first share buyback program on 2 May
2017, PSH has repurchased a total of $671 million of PSH Public
Shares, representing 43,642,907 PSH Public Shares at an average
price of $15.38.
Jefferies International Limited will continue in its role as
sole buyback agent for the Program which will enable the purchase
of shares during closed periods. Shares repurchased by the Company
will be held in Treasury.
In accordance with EU regulations, PSH advises shareholders that
the number of shares to be repurchased under the Program is the
maximum of $100,000,000 or 6,000,000 PSH Public Shares.
PSH also announced that its Annual General Meeting of
Shareholders ("AGM") will be held on Monday, 27 April 2020 at 12:00
p.m. BST at Woodgrange, Fort Road, St. Peter Port, Guernsey, GY1
1ZW. On 25 March 2020, the States of Guernsey announced mandatory
measures to reduce the transmission of COVID-19. The measures
require people to stay at home, except for very limited purposes,
and prohibit all gatherings of more than two people in public. The
Board fully supports these measures to protect public health and
safety and requests that shareholders not attend the AGM in person.
Arrangements will be made by the Company to ensure that the minimum
number of Shareholders required to form a quorum will attend the
AGM so that it may proceed. The Board encourages Shareholders to
submit proxy votes in electronic form. The results of the voting
will be announced as soon as practicable after the conclusion of
the AGM.
At the AGM, shareholders will consider the receipt of the annual
report and the financial statements, the renewal of PSH's share
buy-back authority, the re-appointment of PSH's auditor, the
approval to disapply pre-emption rights for any share issuance of
10% or less, and the re-election of PSH's current directors with
the exception of William Scott, who has been a director since 2012
and is not offering himself up for re-election due to his
commitments to other directorships.
The specific resolutions can be found in the Notice of Annual
General Meeting available on PSH's website,
https://www.pershingsquareholdings.com/company-reports/notices-shareholders/.
About Pershing Square Holdings, Ltd.
Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) is an
investment holding company structured as a closed-ended fund that
makes concentrated investments principally in North American
companies.
This is a disclosure according to Article 17 of the EU Market
Abuse Regulation (Regulation 596/2014/EU).
The document will shortly be available for inspection on the
National Storage Mechanism website:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Media
Camarco
Ed Gascoigne-Pees / Hazel Stevenson +44 020 3757 4989,
media-pershingsquareholdings@camarco.co.uk
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200406005860/en/
CONTACT:
Pershing Square Holdings, Ltd.
SOURCE: Pershing Square Holdings, Ltd.
Copyright Business Wire 2020
(END) Dow Jones Newswires
April 07, 2020 02:00 ET (06:00 GMT)
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