Fidelity European Trust PLC (FEV) has disclosed its total voting rights and capital position as at 31 October 2026, confirming the repurchase of 5,395,000 ordinary shares into Treasury during the month of October. The announcement, made in compliance with DTR 5.6.1 of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, establishes a voting rights denominator of 479,099,150 for shareholder notification purposes. No shares were cancelled or newly issued during the period, making this a purely treasury-based capital management action. Investors in the London-listed investment trust, which focuses on European equities, will use the updated denominator to assess their disclosure obligations under FCA rules.

Key Points

  • Fidelity European Trust PLC (FEV), managed by FIL Investments International
  • The trust repurchased 5,395,000 ordinary shares into Treasury during October 2026; no shares were cancelled or issued
  • Total issued share capital stands at 528,350,065 ordinary shares, with 49,250,915 held in Treasury and carrying no voting rights
  • Investors should use the updated voting rights denominator of 479,099,150 to determine FCA disclosure obligations

Fidelity European Trust Moves 5.39 Million Shares into Treasury During October 2026

During October 2026, Fidelity European Trust PLC repurchased 5,395,000 ordinary shares, placing them into Treasury rather than cancelling them outright. The announcement confirms that no ordinary shares were repurchased for cancellation and no new shares were issued over the same period. This approach retains the shares within the company's capital structure while removing them from circulation. Treasury shares carry no voting rights and are excluded from dividend entitlements, meaning the repurchases reduce the effective float without permanently shrinking the trust's total issued capital. The company did not disclose the cost of the buyback programme in the announcement.

FEV Issued Share Capital and Treasury Holdings as at 31 October 2026

As at 31 October 2026, Fidelity European Trust's total issued share capital comprised 528,350,065 ordinary shares. Of that figure, 49,250,915 shares are held in Treasury and accordingly attract no voting rights under the FCA's framework. The cumulative Treasury holding — now representing a meaningful portion of the total issued capital — reflects the trust's ongoing share repurchase activity. Such programmes are common among UK-listed investment trusts seeking to manage discounts to net asset value, though the announcement does not reference discount management as the stated rationale. The trust's mandate centres on actively managed exposure to European equities through FIL Investments International.

Voting Rights Denominator Set at 479,099,150 for FCA Disclosure Calculations

With 49,250,915 Treasury shares stripped of voting rights, the total number of voting rights in Fidelity European Trust PLC as at 31 October 2026 stands at 479,099,150. The announcement confirms this figure should be used by shareholders as the denominator when calculating whether their interest — or any change to their interest — crosses a threshold requiring notification under the FCA's Disclosure Guidance and Transparency Rules. Investors approaching or holding significant positions in FEV should review their holdings against this updated denominator to ensure compliance with their regulatory notification obligations.