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Would be nice for gervais to critic his own company as he seems to be a small cap expert - with miton getting smaller by the day. By far the worst performer in my portfolio this year.
Over 5 million shares sold so far today, so why no change in price? Am I missing something? Director bought recently at about 45p - only adds to the intrigue / confusion?
big trade..........
buys today....and a 1mill.............
Wow looks like this company is eyeing up Superglass by the looks of it??
The Diverse Income Trust is managed by Gervais William and was established in April 2011. As of July 31st 2012, the trust's net asset value had grown by 2.4% over one month, 0.4% over three months, 2.5% over one year and 1.1% since launch. As of the same date, its top five holdings as of this time were Zotefoams, CML Microsystems, Greencore Group, Quindell Portfolio and Abbey Protection with 2.2$, 2.1%, 2.0%, 1.8% and 1.7% stakes respectively.
Miton Group fund manager Gervais Williams' FTSE-listed Diverse Income Trust is edging closer to a merger with the Henderson Fledgling Trust. An update issued by the Diverse Income Trust on Friday stated that the board had agreed heads of terms with Henderson Fledgling Trust in respect of a future merger of the two companies. Under the scheme, the Henderson Fledgling Trust would receive new Diverse Income Trust shares valued at a premium of 2.5% to their net asset value (NAV) as at the effective date of the scheme. The consideration for the issue of new Diverse Income Trust shares would be the transfer to Diverse Income Trust of the entire investment portfolio of Henderson Fledgling Trust, following the setting aside of amounts as required to meet the company's liabilities, by way of a scheme of reconstruction. No cash exit is being offered as part of the scheme.
Winding-up proposals The Company today issued the following announcement to the London and Channel Islands Stock Exchanges: Proposed reconstruction The Board of M&G Recovery Investment Company Limited (the `Company') is proposing to put forward proposals to coincide with its scheduled wind up date of 31 March 2009. Under the proposals, the Company will be wound up and its shareholders will be offered the choice of the following: - a tax and cost efficient rollover into new shares to be issued by M&G High Income Investment Trust plc (`HIT'); - a full cash exit (at liquidation value); and - an investment in at least one open-ended investment company managed by M&G, the Company's investment manager. HIT is listed in London, managed by the same investment team at M&G as the Company and has both a similar investment objective and structure (being closed-ended and split capital). The Company currently has gross assets of £124 million whilst HIT has gross assets of £141 million and has a wind-up date of 17 March 2017. As part of the proposals, M&G will make a significant commitment in relation to the costs of the proposals. Further precise details of the scheme will be announced in February 2009.
DIVIDEND ANNOUNCEMENT: M&G Recovery Investment Company Limited M&G Recovery Investment Company Limited announces that at a meeting of the Board of Directors held today, it was resolved to declare a third interim dividend of 0.50p (2007: 0.50p) per Ordinary Share in respect of the period ending 31 January 2009, to be paid on 02 March 2009 to Ordinary Shareholders on the register at the close of business on 20 February 2009. The ex-dividend date is 18 February 2009. Holders of Package Units will receive a dividend of 1.0p per Package Unit, which comprises one Zero Dividend Share and two Ordinary Shares. In anticipation of the Company's imminent winding up, the ex-dividend and pay dates for the third interim dividend are earlier than the equivalent dates in the previous year. Including this payment the total dividends paid in respect of the financial year to date will be 2.45 pence (4.9 pence per Package Unit). A final interim dividend payment, representing the best estimate of the remaining revenue profits of the Company available for distribution prior to the Company's winding up, is expected to be announced on 12th March 2009 and to be paid on 25 March 2009. Kleinwort Benson (Channel Islands)Fund Services Limited Company Secretary