Odyssean investment trust proposes tender offer as part of 'seventh year' promise

Via Winterflood

The board of the Odyssean investment trust (OIT) has put forward proposals to provide a tender offer to shareholders.

This was promised to shareholders when the trust first launched in 2018, with the board setting out intentions to give shareholders an opportunity to realise the value of their investment at net asset value, excluding costs, in the seventh year following its listing and every seven years thereafter. The board said in a stock exchange filing today (21 May), that the best realisation option at its disposal was a tender offer. OIT will publish a circular with the details later today and hold a general meeting on 6 June for shareholders to vote on the proposed tender. Number of investm...