The board of Trian Investors 1 has distributed all the stock it held in British-American plumbing and heating products firm Ferguson to partners, with investors set to receive both cash and shares from this distribution "as soon as practicable".
Following a long saga with shareholders, which saw chair Chris Sherwell ousted last summer over disagreements with management's governance, the board decided to shutter the trust last September. After an extraordinary general meeting, the management agreed to compulsorily return investor capital, redeeming no less than 95% of each shareholder's investment in the company by no later than 30 June 2023. Trian Investors 1 compulsorily returns investor capital and plans wind up At the time, the board felt there was value to be gained from its investments in Ferguson and Unilever, but th...
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