Woodford scheme of arrangement approved

Provisional 93.7% approval

James Baxter-Derrington
clock • 1 min read

The scheme of arrangement proposed by Link Fund Solutions has been approved by a significant majority of investors at a meeting held yesterday (13 December).

According to provisional results, the vote was passed by 93.7% of the number of scheme creditors who voted and 96.1% by value. Where an institution is beneficial owner of shares, it only had one vote by number. As the scheme has surpassed the statutory threshold of 50% by number and 75% by value, Link Fund Solutions has asked the court to arrange a second hearing for 18 January 2024. Remaining Woodford fund assets shrink 40% since last distribution revealed Overall, 90.2% of individual scheme creditors who voted by from approved the scheme, while 100% of institutional investors ...

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