Keystone Positive Change is pushing ahead with its cash or rollover scheme.
As previously announced, each ordinary shareholder will be entitled to elect to receive, in respect of some or all of their shares, new shares in the Baillie Gifford Positive Change Fund and/or an uncapped cash exit (subject to the cash option discount of 1% to the residual NAV per ordinary share).
The meetings to approve everything are scheduled for 17 March and 28 March. Dealing would stop on 17 March. If everything is approved, dealing in the new Baillie Gifford Positive Change open-ended fund shares is supposed to start on 31 March and cash despatched to those electing for the cash option in the week commencing 7 April 2025.
[QuotedData comment – James Carthew: We are pleased to see the board moving ahead with the scheme. Saba would be mad to block it, so I think it will be approved at the two meetings. As I’ve have said previously, I disagree with the 1% exit charge if you tick the cash box. If you want cash, I would tick the rollover box and then cash in the open-ended fund at first opportunity (it’s a daily dealing fund). The timing for the receipt of cash may be about the same – platform experiences may vary!]
KPC : Keystone scheme details published
