Finsbury Smaller Cos set for closure

shareholders agree to liquidate the £21.5m investment trust after its net asset value declined by 53% over the 12 month period to 22 april

The £21.5m Finsbury Smaller Quoted Companies investment trust is to be liquidated after its NAV declined by more than half over the past year. Shareholders at an extraordinary general meeting on 22 April voted to place the company into members' voluntary liquidation. The liquidation had been flagged at the company's annual general meeting in March, when its articles of association required the board to propose the continuation, liquidation or reconstruction of the trust. The board said the difficult economic and stock market conditions the company has been experiencing and the discou...