Mid Wynd International Investment Trust to Renew Share Buyback Authority at August 2026 EGM Ahead of October AGM

Overview of Mid Wynd’s Discount Control Mechanism and Buyback Policy

Mid Wynd International Investment Trust plc employs a structured policy to manage its share price premium or discount relative to NAV per share. The Board’s policy involves issuing and repurchasing ordinary shares of 5 pence each as needed to maintain the share price within a ±2% band relative to NAV under normal market conditions. This discount control mechanism is a common governance feature among investment trusts, designed to protect shareholders from excessive premiums or significant discounts in secondary market trading.

The mechanism necessitates maintaining an active buyback authority to repurchase shares when the market price trades below NAV. Without sufficient authority, the Company would be unable to support its share price through systematic buybacks, risking a wider discount. The Board’s decision to seek early renewal reflects the frequent use of this tool to safeguard shareholder value and ensure orderly trading on the stock exchange.

Utilisation of Buyback Authority Since February 2026

At the general meeting on 27 February 2026, shareholders authorised Mid Wynd to repurchase up to 4,542,323 Ordinary Shares. Between that date and 15 July 2026, the most recent practicable date before this announcement, the Company has repurchased 3,033,500 shares, representing 67% of the granted authority.

The active buyback pace highlights the ongoing use of the discount control mechanism. The Board anticipates full utilisation of the current authority before the annual general meeting on 21 October 2026. To avoid any lapse in buyback capacity, the Board has resolved to seek early renewal of the authority, ensuring uninterrupted operation of the discount control mechanism.

Details of the General Meeting on 13 August 2026

The Company will hold an extraordinary general meeting at 10:00 a.m. on 13 August 2026 at Juniper Partners Limited, 28 Walker Street, Edinburgh, EH3 7HR. This meeting will seek shareholder approval to renew the buyback authority ahead of the anticipated exhaustion of the existing authority.

A circular outlining the proposal and rationale for early renewal has been published and submitted to the Financial Conduct Authority’s National Storage Mechanism, accessible at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The circular and meeting notice are also available on Mid Wynd’s website at https://www.midwynd.com, providing shareholders and interested parties with comprehensive information.

Board’s Recommendation for Shareholder Approval

The Board strongly recommends shareholders vote in favour of the resolution at the general meeting. It views the continuation of the discount control mechanism as vital to the Company’s effective operation and shareholder protection. Maintaining the buyback authority ensures a seamless transition from the current authority and enables ongoing management of share price discounts relative to NAV.

Early renewal prevents any gap in authority that could hinder share repurchases, potentially leading to a wider discount and disadvantaging shareholders. This proactive measure safeguards consistent application of the Company’s discount control policy.

Investment Trust Structure and Net Asset Value Focus

As a closed-ended investment trust, Mid Wynd’s shares trade on the stock exchange and may trade at premiums or discounts to NAV. The discount control mechanism is essential to protect shareholders from paying excessive premiums or enduring significant discounts. By actively repurchasing shares when prices fall below NAV, the Company supports the share price and narrows the discount, benefiting all shareholders by aligning market prices more closely with fundamental value.

Timeline of Shareholder Authority and Buyback Activity

The last shareholder approval for buyback authority was granted at the 27 February 2026 general meeting, permitting repurchase of up to 4,542,323 Ordinary Shares. As of 15 July 2026, the Board expects this authority to be fully utilised before the 21 October 2026 annual general meeting. The early general meeting on 13 August 2026 is designed to bridge the gap, ensuring continuous buyback capacity and exemplifying sound governance.

Regulatory Compliance and Governance Framework

Mid Wynd operates under the UK Financial Conduct Authority’s Listing Rules and Disclosure Guidance and Transparency Rules. Share buyback authority requires shareholder approval at a general meeting and must comply with regulatory restrictions on pricing and timing. Publishing the circular via the National Storage Mechanism and on the Company’s website fulfills transparency obligations, ensuring shareholders have access to all pertinent information to make informed decisions.

Impact on Shareholders and Trading

Renewal of the buyback authority directly benefits shareholders by enabling the Company to reduce share count when shares trade below NAV, thereby supporting share price and liquidity. Shareholders are invited to vote in person or by proxy at the 13 August 2026 meeting. The Board’s clear endorsement provides guidance on the resolution’s importance for shareholder value preservation.

Contact and Further Information

Shareholders seeking additional information can contact the Company Secretary at 0131 378 0500, representing Chairman David Kidd. All relevant documents, including the circular and meeting notice, are accessible on the Company’s website at https://www.midwynd.com and via the FCA’s National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.