Honeycomb trust combines with Pollen Street

£628m trust unites with Pollen Street

The £628m Honeycomb investment trust and its investment management firm, Pollen Street, are to combine to create a new listed commercial company.

As part of the agreement Honeycomb will acquire the entire issued share capital of Pollen Street in exchange for shares in the company. Pollen Street shareholders will receive new company shares equivalent to 45.5% of the new company. The combined business will be owned by the shareholders of Honeycomb and Pollen Street. Pollen Street group has been the trust's investment manager for six years. In the stock exchange announcement on 15 February, the board said the combination offers shareholders of the trust the opportunity to benefit from "a fast growing and high performing private ca...