Bankers Investment Trust buys back shares, updates NAV

The Bankers Investment Trust Plc announced a market purchase of 125,000 ordinary shares of 2.5p each on 18 December 2025, at a price of 131.0p per share, to be held in treasury. Following this transaction, the company's issued share capital remains 1,315,102,830 ordinary shares, with 340,333,865 shares (25.9%) held in treasury, which carry no voting rights. The total number of voting rights is now 974,768,965.

Concurrently, the unaudited net asset value (NAV) per share as of 17 December 2025 was disclosed. According to the AIC formula (including current financial year revenue items and excluding treasury shares), the NAV was 138.2p, with debt marked at fair value showing 141.6p. Excluding current financial year revenue items and treasury shares, the NAV was 137.7p, and 141.1p with debt marked at fair value.

The fair value of the company's GBP denominated unsecured loan notes is based on a discount rate reflecting the yield of a UK Gilt of similar maturity plus a credit spread. Similarly, the fair value of Euro denominated unsecured loan notes uses a discount rate derived from a Euro Swap of similar maturity plus a credit spread.