Establishment Investment set to wind-up – Earlier in November 2018, we wrote about the potential wind up of Establishment Investment (ET), after the company’s board recommended shareholders vote to not continue the trust (click here to read more on this story).
ET have announced today that their board received a number of proposals and, following a review of the options available, they intend to put forward proposals to put the company into voluntary liquidation and to offer shareholders the option of electing for any or a combination of:
- The default option of rolling some or all of their investment into new shares at formula asset to be issued by Henderson International Income Trust (HINT)
- Rolling some or all of their shares into shares to be issued by VT Garraway Asian Centric Global Growth Fund (VT)
- Receiving cash at net asset value less costs.
These two options or cash
HINT is a closed-ended trust that seeks to provide shareholders with a growing total annual dividend, paid quarterly, as well as capital appreciation. It is designed to help UK investors diversify their equity income streams by investing in a focused and internationally diversified portfolio of 50-80 companies outside the UK. HINT invests in undervalued companies that are out of favour which pay investors a dividend income whilst they wait for value to be realised.
VT is a proposed new open-ended company which aims to provide shareholders with capital growth and income over the longer term. It will invest in a diversified global portfolio of equities, combining both developed and emerging markets exposure; along with the flexibility to invest in government bonds and precious metal ETFs.
ET: Establishment Investment set to wind-up