Ruffer Investment Company Limited (RICA), a closed-ended investment company incorporated in Guernsey, has announced the repurchase of 250,000 of its Redeemable Participating Preference Shares at a price of 292 pence per share on 10 November 2026. The buyback, conducted under shareholder authority granted on 10 December 2024, sees the acquired shares held in treasury rather than cancelled. The transaction represents approximately 0.0651 per cent of the company's current issued share capital, a detail investors tracking the company's capital management strategy may wish to note.

Key Points

  • Ruffer Investment Company Limited (RICA) — closed-ended investment company incorporated in Guernsey
  • The company repurchased 250,000 Redeemable Participating Preference Shares at 292 pence per share on 10 November 2026, to be held in treasury
  • Following the transaction, total issued shares stand at 384,017,764, of which 103,184,714 are held in treasury; the voting rights figure for regulatory reporting is 280,833,050
  • Investors should monitor whether further buybacks follow under the existing shareholder authority originally granted in December 2024

RICA Buyback Conducted Under December 2024 Shareholder Authority

The repurchase was carried out pursuant to the general authority granted by Ruffer Investment Company's shareholders at a meeting held on 10 December 2024, permitting the company to make market acquisitions of its own Redeemable Participating Preference Shares. The announcement confirms the transaction took place on 10 November 2026, with 250,000 shares acquired at 292 pence each. The shares are to be held in treasury, meaning they remain part of the company's total issued share count but do not carry voting rights or dividend entitlements while so held.

Treasury Share Position and Total Issued Capital After the Transaction

Following the buyback, Ruffer Investment Company has 384,017,764 Redeemable Participating Preference Shares in total issue, of which 103,184,714 are now held in treasury. The scale of the treasury holding — representing a substantial portion of issued capital — reflects an ongoing programme of market acquisitions by the Guernsey-incorporated vehicle. The 250,000 shares repurchased in this transaction represent approximately 0.0651 per cent of the current total issued share capital, as stated in the announcement.

Voting Rights Figure of 280,833,050 to Be Used for FCA Disclosure Purposes

Under the FCA's Disclosure Guidance and Transparency Rules, treasury shares must be excluded when calculating whether a notifiable interest in a company has been reached or changed. The announcement specifies that the relevant figure for such regulatory reporting purposes is 280,833,050 voting rights. This is the number market participants and shareholders should use when assessing whether their holdings trigger disclosure obligations under applicable transparency rules, a standard requirement for listed closed-ended funds operating under UK regulatory oversight.

Investec Acts as Broker as Aztec Financial Services Provides Company Secretarial Support

Enquiries relating to the transaction are directed to Aztec Financial Services (Guernsey) Limited, acting as company secretary, with Lewis Germain named as the contact. Investec Bank plc serves as broker to Ruffer Investment Company, with David Yovichic listed as the relevant contact at the firm. The company's LEI is recorded as 21380068AHZKY7MKNO47. No additional financial metrics, net asset value data, or portfolio commentary were included in this announcement.