F&C Investment Trust PLC has granted shareholders the authority to repurchase up to 77,693,507 of its ordinary shares.
The buyback may be funded from the Company's own cash resources or, if appropriate, from short term borrowings.
J.P. Morgan Securities plc will act as the Company's broker for the buyback transactions, which must not exceed the higher of 105% of the average middle market quotations for the five business days preceding the date of purchase or the higher of the last independent bid and the highest current independent bid on the London Stock Exchange.
The authority for the repurchase will expire on 30 June 2024.
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