Weiss Korea Opportunity Fund has proposed a managed wind-down of the company. The board said that it carried out extensive consultation with advisers and shareholders, and received a number of proposals from third parties, before making the decision.

It launched a strategic review in November 2024 after its investment manager, Weiss Asset Management, said that it believed that the opportunity set and strategy for the fund continuing in its current form was less attractive than it has been in the past.

The board said that it assessed a number of proposals, regarding a change of investment mandate and/or a potential combination of WKOF’s assets with another suitable investment company or fund, as an alternative to a managed wind-down.

It held meetings with interested parties in late January 2025, with further detailed discussions continuing with one preferred party through February 2025. But due to the complexities associated with the proposals that came to light in the detailed discussions, combined with differing views received from shareholders, the board said it reached the decision that a managed wind-down was the fairest proposal and would be in the best interests of shareholders as a whole.

The board intends to publish a shareholder circular by the end of March 2025 to convene a general meeting, at which it will seek approval from shareholders for the managed wind-down and any related matters required to facilitate an orderly realisation.