Chelverton Growth Trust has decided to wind up- Chelverton Growth Trust has seen a significant decline in the net assets value per share from 85.63p to 60.48p which is a decrease of 29.37%. Which is a reverse of the gains made from last year. Also, in the same period the index for the MSCI Small Cap UK Index rose by 7.15%. Due to these poor results for the year and macroeconomic problems Chelverton Growth Trust has decided that the next step for the company is to begin the steps of winding up and try to maximise the value of the shareholders from the remaining assets. When value and liquidity are restored to alternative investment market shares will be realised, with cash proceeds first going to settle all outstanding liabilities and then value to shareholders through a further tender offer or buybacks. Ultimately the board will try and find the most tax efficient way of returning value to shareholders. The fund expects the whole process to take at least two years.
CGW- Chelverton Growth Trust has decided to wind up