Odyssean trust shareholders give green light to tender offer

General meeting

The vast majority of shareholders in the Odyssean investment trust (OIT) have approved the proposal of a tender offer at a general meeting yesterday (6 June).

Around 99.9% of investors voted in favour, with just 0.02% voting against the repurchase of shares at 1p each. The tender offer plans, first revealed last month, are part of a ‘seven-year promise' from OIT made at its IPO in 2018. OIT's board promised shareholders at the time it would give them the opportunity to realise the value of their investment at net asset value, excluding costs, in the seventh year after the listing and every seven years thereafter. Odyssean investment trust proposes tender offer as part of 'seventh year' promise According to a stock exchange notice on W...