BlackRock Smaller Companies Trust buys back shares for treasury
BlackRock Smaller Companies Trust is increasing its treasury holding after buying back 115,000 ordinary shares on 30 October 2026. The purchase, made at an average price of 272.50 pence a share, affects the share count investors should use under FCA disclosure rules after settlement on 03 November 2026.
Highlights
- BlackRock Smaller Companies Trust is buying back shares to hold in treasury rather than cancelling them, with settlement due on 03 November 2026.
- Post-settlement, 20.61% of the company’s 298,692,605 ordinary shares, equating to 61,568,655 shares, will be held in treasury and carry no voting rights.
- Investors calculating FCA disclosure thresholds must use the figure of 237,123,950 shares post-settlement, excluding treasury shares from assessments.
Buyback terms and settlement timeline
As reported by London Stock Exchange, the company says the repurchased shares will be held in treasury rather than cancelled. After settlement on 03 November 2026, BlackRock Smaller Companies Trust will have 237,123,950 ordinary shares in issue, excluding 61,568,655 shares held in treasury.Treasury shares do not carry voting rights. Following settlement, 20.61% of the company’s total issued share capital of 298,692,605 ordinary shares, including treasury shares, will be held in treasury.
Implications for shareholder disclosures
For the purposes of the FCA’s Disclosure Guidance and Transparency Rules, investors should exclude treasury shares when calculating whether they need to notify an interest or a change in interest in the company.That means the market should use the figure of 237,123,950 shares following settlement when assessing disclosure thresholds. The contact named for enquiries is Lucy Dina, company secretary at BlackRock Investment Management (UK) Limited.
In our earlier article on India’s disinvestment programme, we explained how a large share of proceeds has come through market-based routes such as ETFs, public issues and buybacks rather than strategic sales that transfer management control. The piece highlighted how this reliance on instruments like buybacks shapes headline fund-raising figures and helps explain why large one-off deals can significantly change annual targets and investor expectations.
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