Third Point Investors has extended its share buyback programme, as the trust’s discount continued to widen and relative underperformance continued during the first half of the year.
In its interim half-year results, the board said today (22 September) it would continue its previously announced buyback programme, authorising up to a further $25m over the period to April 2024. During the first half of 2023, the trust bought back approximately 1.2 million shares, equivalent to $23.7m in value, adding $0.18 to NAV. The board allocated a further $50m to buybacks in September last year, with $5m of the capacity unused. Third Point Investors hit by long equity exposure in 'bruising' 2022 The board added it would hold tender offers in April 2024 and April 2027, each ...
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