Transaction in Own Shares

Fidelity China Special Situations PLC repurchased and cancelled 30,061 ordinary shares on 16 December 2025 at a fixed price of 301p per share (c. £3.01), a negligible reduction in issued share capital (≈0.0053%). After the cancellation the company reports issued share capital of 562,153,221, 85,629,548 shares held in treasury (which carry no voting rights) and total voting rights of 476,523,673, the latter to be used as the denominator for FCA Disclosure Guidance and Transparency Rules notifications.

Analysis

Fidelity China Special Situations PLC repurchased and cancelled 30,061 ordinary shares on 16 December 2025 at a fixed price of 301p per share, with the average, low and high price all reported as 301.000 GBp. Following the cancellation the company reports issued share capital of 562,153,221, 85,629,548 shares held in treasury (which carry no voting rights), and total voting rights of 476,523,673 to be used for FCA Disclosure Guidance and Transparency Rules calculations.

The size of the transaction is immaterial to capital structure—the published summary notes the reduction is approximately 0.0053% of issued share capital—so the immediate financial effect is a marginal increase in NAV per share and a tiny consolidation of the voting base. The signal outputs show a mildly positive sentiment (0.25) and very low market-impact score (0.08), indicating the market is unlikely to react strongly to this isolated repurchase.

Implications for investors are therefore procedural rather than value-altering: the buyback is a governance/capital return action by management but not a material capital-allocation shift. Monitor further repurchase frequency or announcements for a change in stance, and use the stated total voting rights figure when calculating disclosure thresholds under FCA rules.

Key Decisions for Investors

• Do not change position based solely on this 30,061-share cancellation; the size is negligible and unlikely to materially affect valuation or liquidity
• Use the reported total voting rights figure of 476,523,673 as the denominator for FCA disclosure threshold calculations and update internal ownership monitoring accordingly
• Monitor management for repeat or larger buyback activity—consider increasing exposure only if the company announces a sustained or materially sized repurchase program that would meaningfully reduce share count