Gresham House Strategic board sets out two-year managed wind-down of trust after collapse of review

B share scheme ‘fairest’ way to return capital to shareholders

clock • 2 min read
Richard Staveley is expected to act as a consultant to Harwood as the trust is wound down
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Richard Staveley is expected to act as a consultant to Harwood as the trust is wound down

The board of Gresham House Strategic (GHS) investment trust has proposed a change of investment policy to facilitate a managed wind-down of the company over 24 months and for the initial return of capital by way of a B Share scheme and tender offer of up to £25m in aggregate, following the collapse of its strategic review.

It has also proposed the return of capital by way of future tender offers as the GHS portfolio is realised and confirmed that Harwood Capital has committed to manage the GHS portfolio for no fees during the managed wind-down period. The board said that it believes the proposals would be "the fairest and most cost-effective and tax-efficient ways to effect returns of capital". A requisitioned general meeting will take place on 15 December 2021. If the proposals are approved by shareholders, it will result in the realisation of all the company's assets over a two-year period and the ...

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