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Baker Steel Resources Trust to buy back shares through tender offer

The offer is for one share in 12 at a fixed price of 51p

Mining
Shareholders need to approve the return of capital

Baker Steel Resources Trust PLC (LON:BSRT) has a launched a tender offer to buy back around 8% of its share capital.

The offer is at fixed price of 51p for 9,677,498 shares or roughly one in 12 of the amount currently in issue.

WATCH: Baker Steel Resources Trust - Mining Capital May 2019

The tender price is a premium of 10.9% to the market price and a discount of 10.2% discount to the unaudited NAV on 30 April.

Shareholders need to approve a special resolution at the AGM for the tender offer to proceed.

Quick facts: Baker Steel Resources Trust Ltd

Price: 56 GBX

LSE:BSRT
Market: LSE
Market Cap: £59.62 m
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