As James Hart, one of the investment team working on The Cayenne Trust, departs for Witan (see separate story) and Len Gayler, the fund’s chief executive, decides he’d like to relinquish responsibility for the fund in 2016, The Board of The Cayenne Trust has decided that the best course of action is to plan to wind up the fund sometime on or soon after August 2016. August 2016 is the date when the company’s 3.25% convertible unsecured loan stock will be redeemed. Len Gayler will be responsible for overseeing the sale of the portfolio and the return of cash to shareholders until it is time to hand over to a liquidator.
TCT : The Cayenne Trust to wind up