Following the approval of its managed wind down in February 2025, Schroder Capital Global Innovation is ready to start handing back some money to shareholders.
With the cash that the trust already had, the realisation of Araris Biotech in April and an anticipated partial realisation of the company’s interests in AI Company II, there is £37m available for this first tender. That should be enough to shrink the number of shares in issue by about 21.42%.
Shareholders need to approve the plan – at a meeting to be held on 10 July.
The tender price is based on the NAV at the end of May 2025 and is estimated to be 21.119983p per share. However, if there is any material change in the NAV between now and 18 July, the price will be updated.
The final price will be announced on 25 July and cash sent out on 28 July.
[QD comment, James Carthew: It seems amazing to me that Neil Woodford has been able to launch a new investment business given the appalling track record of this trust – which was Woodford Patient Capital – all credit to Schroders for doing their best to sort out the mess.]
INOV : Schroder Capital Global Innovation launches tender offer
