The Board and the Advisers continually analyze options to enhance shareholder value including responding to market events such as extreme volatility during certain periods. The Board and the Advisers believe that the share repurchase program is a positive step that will put the Fund in a better position to address unforeseen circumstances as markets adapt to new economic and global realities. This step potentially provides additional liquidity in the trading of the Fund shares, directly benefiting all of its shareholders. The Board will monitor the repurchase program and will continue to consider strategic options to enhance shareholder value in the long-term.
The Fund’s repurchase program will be implemented on a discretionary basis under the direction of the Advisers. The Fund’s repurchase activity, including the number of shares purchased, the average purchase price and the average discount to NAV, will be disclosed in the Fund's annual and semi-annual reports to shareholders. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts or that the market prices of the Fund’s shares, either absolutely or relative to its NAV, will increase as a result of any share repurchases.
About
For further information on the Fund, please visit our web site at: www.sprottfocustrust.com. An investor should consider investment objectives, risks, charges and expenses carefully before investing. The Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. The Fund trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker.
Contact: | |
(416) 943-4394 |
Source:
2020 GlobeNewswire, Inc., source