Ruffer Investment Company Limited (RICA), a closed-ended investment company incorporated in Guernsey, has announced the repurchase of 400,000 of its Redeemable Participating Preference Shares at £2.94 per share on 4 November 2026. The buyback was conducted under a general authority granted by shareholders on 10 December 2024, with the acquired shares to be held in treasury. The transaction represents approximately 0.1042 per cent of the company's current issued share capital, a detail investors tracking treasury activity and voting rights may wish to note.

Key Points

  • Ruffer Investment Company Limited (RICA) — a Guernsey-incorporated closed-ended investment company
  • The company repurchased 400,000 Redeemable Participating Preference Shares at £2.94 per share on 4 November 2026, to be held in treasury
  • Following the transaction, total issued shares stand at 384,017,764, of which 102,784,714 are held in treasury; the voting rights figure for FCA reporting purposes is 281,233,050
  • Investors should monitor further buyback activity under the existing shareholder authority and any changes to the voting rights figure

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 400,000 shares were acquired on 4 November 2026 at a price of £2.94 per share and will be held in treasury rather than cancelled. The transaction accounts for approximately 0.1042 per cent of the company's total issued share capital, reflecting a measured use of the buyback mandate within the bounds set by shareholders.

Treasury Holdings and Total Issued Share Capital Following the Transaction

Following completion of the repurchase, Ruffer Investment Company has 384,017,764 Redeemable Participating Preference Shares in issue in total. Of this figure, 102,784,714 shares are now held in treasury, representing a substantial proportion of the overall issued capital. Treasury shares carry no voting rights and are excluded from distributions, meaning the economic and governance impact of this tranche of buybacks is concentrated among the remaining actively held shares. The scale of existing treasury holdings indicates the company has been an active purchaser of its own shares over time.

FCA Voting Rights Figure Set at 281,233,050 for Disclosure Purposes

Under the FCA's Disclosure Guidance and Transparency Rules, shareholders and market participants are required to exclude treasury-held shares when calculating voting interest thresholds. Ruffer Investment Company confirms that the relevant figure for such reporting purposes is 281,233,050 voting rights. This is the number investors, funds, and other market participants must use when determining whether they are obliged to notify the company or the FCA of an interest in, or a change to their interest in, the company's shares — an important compliance consideration for significant holders.