Michael Lindsell, co-manager of the Lindsell Train Investment Trust, has bought nearly £150,000 worth of shares in the trust. This purchase, comprising 25,000 shares at an average of 580p on Monday, is part of a programme to boost its valuation.
The £115m Lindsell Train Investment Trust also announced a tender offer on Friday, giving investors the opportunity to sell shares at a valuation above their current market price. The board offered to buy back up to a fifth of the trust's shares at a five per cent discount to its net asset value (NAV).
Directors of the trust acknowledged that performance over the past five years has been "disappointing", with its NAV shedding 7.1 per cent annually. Shares in the trust are currently trading at a 17.7 per cent discount to its NAV and have fallen over 60 per cent in the last five years.
Roger Lambert, chair of the Lindsell Train Investment Trust, stated on Friday that this structure aims to balance the interests of shareholders seeking an exit with those confident in the long-term proposition.