Rights and Issues Investment Trust PLC (RIII) 
Rights and Issues Investment Trust PLC: Results for the year ending 31 December 2020 
16-Feb-2021 / 16:10 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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RIGHTS AND ISSUES INVESTMENT TRUST PLC 
Annual Report & Accounts for the full year to 31st December 2020 
A copy of the Company's Annual Report for the year ended 31st December 2020 will shortly be available to view and 
download from the Company's website https://www.maitlandgroup.com/investment-trusts/ 
rights-and-issues-investment-trust-plc/. 
Printed copies of the Annual Report will be sent to those shareholders electing to receive hard copies shortly. 
Additional copies may be obtained from the Company Secretary - Maitland Administration Services Limited, Hamilton 
Centre, Rodney Way, Chelmsford, Essex CM1 3BY. 
The Annual General Meeting of the Company will be held electronically on 24th March 2021 at 11am GMT and unfortunately, 
due to ongoing COVID-19 restrictions, the meeting will be closed to shareholders. A presentation from the Company's 
Investment Director will be made available via the Company's website from 10th March 2021 and shareholders are also 
invited to submit any questions in advance of the meeting, by 17th March 2021 at the latest. 
The Directors have proposed the payment of a final dividend of 21.5p per Ordinary share which, if approved by 
shareholders at the forthcoming Annual General Meeting, will be payable on 1st April 2021 to shareholders whose names 
appear on the register at the close of business on 5th March 2021 (ex-dividend 4th March 2021). 
The following text is copied from the Annual Report & Accounts for the year ended 31st December 2020. 
 
 
INVESTMENT OBJECTIVE & POLICY 
The Board's objective is to exceed the benchmark index over the long term whilst managing risk. 
The Company invests in equities with an emphasis on smaller companies. UK smaller companies will normally constitute at 
least 80% of the investment portfolio. UK smaller companies include both listed securities and those quoted on the 
Alternative Investment Market ("AIM"). 
The investment portfolio will normally lie in the range of 80% to 100% of shareholders' funds and therefore gearing 
will normally be between -20% and 0%. As a result of the Alternative Investment Fund Managers Regulations 2013 it has 
been decided that the Company will not use gearing. 
In January 2021 the Board reviewed the performance of the Company in the context of the investment objective, the 
investment policy and the continuation of the Company. The Directors unanimously supported the continuation for a 
minimum period of five years to 2026. 
 
CAPITAL STRUCTURE 
ISSUED SHARE CAPITAL 
(at 31st December 2020) 
7,540,321 Ordinary shares of 25p each. 
INCOME ENTITLEMENT 
Equal entitlement to dividends and other 
distributions. 
CAPITAL ENTITLEMENT 
Equal entitlement to the surplus assets. 
VOTING 
One vote per share. 
PRICE (mid-market) 
(at 31st December 2020) 
2,105.0p. 
DIVIDEND YIELD 
1.4%. 
DISCOUNT MANAGEMENT POLICY 
On 7th December 2016, the Company implemented share buy-back arrangements to encourage the level of discount to be not 
more than 10%. 
SHARE BUY BACKS 
During the year to 31st December 2020, the Company did not buy back any shares for cancellation and therefore paid nil 
consideration. The Directors have paused the buyback programme as a reflection of both the discount being in the target 
range required under the discount management policy and also market uncertainty caused by the COVID-19 pandemic. 
DISCOUNT 
(at 31st December 2020) 
6.8%. 
 
RIGHTS AND ISSUES INVESTMENT TRUST PLC ("THE TRUST" or "THE COMPANY") MAY BE 
LIQUIDATED AT ANY TIME, BUT THE BOARD OF DIRECTORS HAS CONCLUDED THAT IT IS NOT ITS 
PRESENT INTENTION TO DO SO PRIOR TO 25TH JULY 2026. 
Note: The above is a summary of rights. For full information shareholders should refer to the Articles of Association. 
HISTORIC RECORD 
Year to                                 Net asset value per share Net       FTSE All Share FTSE All Share 
              Net asset value per share                                                    Index (Rebased 
31st December                           (Index 1984 = 100)        dividend  Index 
                                                                  per share                1984 = 100) 
1984          29.0p                     100                       3.80p     592.94         100 
1990          75.4p                     260                       7.50p     1032.60        174 
1995          175.0p                    602                       10.50p    1802.56        304 
2000          473.9p                    1631                      25.50p    2983.81        503 
2005          732.0p                    2520                      40.50p    2847.00        480 
2010          776.4p                    2673                      25.50p    3094.41        522 
2011          751.2p                    2586                      25.50p    2857.88        482 
2012          962.0p                    3312                      26.75p    3093.41        522 
2013          1382.5p                   4759                      40.00p*   3609.63        609 
2014          1297.1p                   4465                      36.00p    3532.74        596 
2015?         1595.6p                   5492                      36.00p    3444.26        581 
2016          2002.2p                   6892                      52.50p*   3873.22        653 
2017          2372.3p                   8166                      30.75p    4221.82        712 
2018          2118.1p                   7291                      31.50p    3675.27        620 
2019          2275.2p                   7832                      32.25p    4196.47        709 
2020          2258.9p                   7776                      32.25p    3673.63        619

* Includes Special Dividend

? From 2015 onwards the historic record is for the Company only and not the Group.

Note: Until 2016 net asset value per share is based on the Capital shares adjusted for the reconstruction (four Ordinary shares for each Capital share). Thereafter, performance is based on the Ordinary shares, formerly named the Income shares (the only remaining share class).

DIRECTORS AND ADVISERS

DIRECTORS Dr D. M. BRAMWELL (Chairman)

D. M. BEST

Dr A. J. HOSTY

S. J. B. KNOTT

J. B. ROPER

REGISTERED OFFICE Hamilton Centre

Rodney Way

Chelmsford CM1 3BY

WEBSITE www.maitlandgroup.com/investment-trusts/

rights-and-issues-investment-trust-plc

ADMINISTRATOR/SECRETARY MAITLAND ADMINISTRATION SERVICES LTD

Hamilton Centre

Rodney Way

Chelmsford CM1 3BY

SOLICITORS EVERSHEDS SUTHERLAND

One Wood Street

London EC2V 7WS

AUDITOR BEGBIES

9 Bonhill Street

London EC2A 4DJ

REGISTRARS LINK MARKET SERVICES LTD

The Registry

34 Beckenham Road

Beckenham

Kent BR3 4TU

BROKERS SHORE CAPITAL

Cassini House

57 St James's Street London SW1A 1LD

BANKERS/CUSTODIAN NORTHERN TRUST COMPANY

50 Bank Street

Canary Wharf

London E14 5NT

REGISTRATION DETAILS

Company Registration Number: 00736898 (Registered in England)

SEDOL number: 0739207

ISIN number: GB0007392078

London Stock Exchange (EPIC) Code: RIII

Global Intermediary Identification Number (GIIN): I2ZVNY.99999.SL.826

Legal Entity Identifier (LEI): 2138002AWAM93Z6BP574

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the fifty-eighth Annual General Meeting of the members of Rights and Issues Investment Trust Public Limited Company will be held electronically on Wednesday 24th March 2021, at 11:00am, for the following purposes:

ORDINARY BUSINESS 1. To receive the audited financial statements and Reports of the Directors and Auditor for the year ended 31st

December 2020. 2. To approve the Annual Report on Directors' Remuneration, set out on pages 27 to 32 in the Annual Report and

Financial Statements 2020 (excluding the Remuneration Policy on pages 30 to 32), for the financial year ended 31st

December 2020. 3. To approve the payment of a final dividend of 21.5 pence per ordinary share for the financial year ended 31st

December 2020. 4. To re-elect Dr D. M. Bramwell as a Director. 5. To re-elect D. M. Best as a Director. 6. To re-elect Dr A. J. Hosty as a Director. 7. To re-elect S. J. B. Knott as a Director. 8. To re-elect J. B. Roper as a Director. 9. To reappoint Begbies as Auditor to the Company, to hold office until the end of the next general meeting at which

accounts are laid before the Company. 10. To authorise the Directors of the Company to determine the Auditor's remuneration.

SPECIAL BUSINESS

To consider and, if thought fit, pass resolutions 11 and 12 as Special Resolutions as follows: 11. THAT the Company be and is hereby generally and unconditionally authorised in accordance with section 701 of the

Companies Act 2006 to make market purchases (within the meaning of section 693 of the Companies Act 2006) of

Ordinary shares, provided that:

11.1 the maximum aggregate number of Ordinary shares hereby authorised to be purchased shall be 1,130,294 (representing approximately 14.99% of the Ordinary shares in issue on 15th February 2021);

11.2 the minimum price (exclusive of expenses) which may be paid for an Ordinary share is 25 pence;

11.3 the maximum price (exclusive of expenses) which may be paid for an Ordinary share is not more than the higher of (i) an amount equal to 105% of the average market value of the Ordinary shares for the five business days immediately preceding the day on which the Ordinary share is purchased; and (ii) the higher of the last independent bid and the highest current independent bid on the London Stock Exchange when the purchase is carried out, or such other amount as may be specified by the FCA from time to time;

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February 16, 2021 11:11 ET (16:11 GMT)