Templeton Emerging Markets Investment Trust plc commences an Equity Buyback Plan for 165,577,439 shares, representing 14.99% of its issued share capital, under the authorization approved on July 11, 2024.
July 11, 2024 at 12:00 am EDT
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Templeton Emerging Markets Investment Trust plc (LSE:TEM) commences share repurchases on July 11, 2024, under the program mandated by the shareholders in the Annual General Meeting held on July 11, 2024. As per the mandate, the company is authorized to repurchase 165,577,439 shares, representing 14.99% of its issued share capital. The minimum purchase price shall be 5 pence per share. The maximum price, which may be paid for an ordinary share shall be an amount equal to the higher of, either 5% above the average market value of the shares for the
five business days before the purchase is made, or the higher of the last independent trade price and the
highest current independent bid price on the London Stock Exchange. Any shares purchased pursuant to this authority may be cancelled or held in treasury. Unless previously renewed, revoked, or varied, the authority hereby conferred shall expire at the earlier of conclusion of the next Annual General Meeting of the company to be held in 2025 or 15 months. As of May 23, 2024, the company had 1,104,585,987 shares in issue.
Templeton Emerging Markets Investment Trust plc is an investment trust company. The Company invests principally in emerging markets companies with the aim of delivering capital growth to shareholders over the long term. Its investment objective is to seek long-term capital appreciation through investment in companies in emerging markets or companies which earn a significant amount of their revenues in emerging markets but are domiciled in, or listed on, stock exchanges in developed countries. The Company invests in sectors, which include information technology, financials, consumer discretionary, communication services, industrials, materials, health care, energy, consumer staples, utilities and real estate. It also invests in countries, including China, South Korea, Taiwan, India, Brazil, the United States, Thailand, Mexico, Hong Kong and Hungary. Its alternative investment fund manager is Franklin Templeton Investment Trust Management Limited.
Templeton Emerging Markets Investment Trust plc commences an Equity Buyback Plan for 165,577,439 shares, representing 14.99% of its issued share capital, under the authorization approved on July 11, 2024.
TEMPLETON EMERGING MARKETS INVESTMENT TRUST PLC 
