As required by the Company’s Articles of Association, because the Company has traded at an average discount to NAV in excess of 10% during 2023, a special resolution will be proposed at the Company’s forthcoming AGM, for shareholders to vote to wind up or otherwise reconstruct the Company. If such a discontinuation resolution is passed, the Company’s Articles provide the Board with four months to put forward a proposal. The strategic review conducted throughout 2023 demonstrated that prevailing market conditions are not conducive to the Company realising the value of its assets. For these reasons, the Board recommends that shareholders vote against the discontinuation of the Company at the Company’s forthcoming AGM.
