Baker Steel Resources Trust PLC (LON:BSRT) has a launched a tender offer to buy back around 8% of its share capital.
The offer is at fixed price of 51p for 9,677,498 shares or roughly one in 12 of the amount currently in issue.
WATCH: Baker Steel Resources Trust - Mining Capital May 2019
The tender price is a premium of 10.9% to the market price and a discount of 10.2% discount to the unaudited NAV on 30 April.
Shareholders need to approve a special resolution at the AGM for the tender offer to proceed.