Shanta Gold's CEO explains the Q2 production shortfall and emphasises the cashflow strength of SGH. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHenderson Alternative Strategies Trust Plc Share News (HAST)

  • There is currently no data for HAST

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Floundering Henderson Alternative To Sell Assets And Mulls Liquidation

Thu, 16th Jan 2020 11:21

(Alliance News) - Henderson Alternative Strategies Trust PLC on Thursday said it will a propose voluntary liquidation following an asset realisation period after a review found that there was "little appetite" for a potential change in investment strategy.

The trust, which invests in other funds and investment trusts, announced in November that it would conduct a review to assess its "competitive positioning". In its half-year, the trust's net asset value returned just 0.1%, while the FTSE World Total Return Index, the company's benchmark, gained 10.6%.

Its share price on September 30, the end of its first-half, was at a 19% discount to its 333.43 pence net asset value.

Shares in the company were 9.7% higher at 298.28p each in London on Thursday morning.

The probe, dubbed a "root-and-branch" review, found that a shift in investment policy, to allow for more illiquid alternative investments, was the best course of action in order to fight the "persistent discount" which has blighted Henderson Alternative.

The trust added: "However, the review also concluded that there was little appetite from larger shareholders for any increase in the illiquidity of the portfolio and, for many, a preference for realising their investment in an orderly fashion.

Accordingly, your board has been in discussions with its manager regarding proposals to realise the company's assets in an orderly manner that achieves a balance between returning cash to shareholders promptly and maximising their value."

As a result, the company will now propose a different change to its investment policy, this time to allow its manager to "sell the portfolio over a time period", in a bid to realise maximum value.

Henderson said: "Subject to shareholder approval of the proposals, the board will seek to return cash to shareholders through the realisation process and may consider a tender offer or offers as the portfolio is realised."

During the realisation process which is expected to last no longer than two years, Henderson Alternative plans to keep its investment trust status. Following the period, it will prospose entering voluntary liquidation.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

23 Nov 20 16:12

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

23 Nov 20 16:03

IN BRIEF: Henderson Alternative Strategies Continues With Realisation

IN BRIEF: Henderson Alternative Strategies Continues With Realisation

9 Oct 20 17:32

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

5 Oct 20 15:57

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

17 Sep 20 16:00

UK DIRECTOR DEALINGS SUMMARY: Photo-Me Chief Executive Buys Shares

UK DIRECTOR DEALINGS SUMMARY: Photo-Me Chief Executive Buys Shares

4 Sep 20 18:04

DIRECTOR DEALINGS: Henderson Alternative Strategies Director Sells

DIRECTOR DEALINGS: Henderson Alternative Strategies Director Sells

26 Aug 20 11:45

UK DIRECTOR DEALINGS SUMMARY: easyJet Non-Exec Buys 90,000 Shares

UK DIRECTOR DEALINGS SUMMARY: easyJet Non-Exec Buys 90,000 Shares

4 Aug 20 22:25

IN BRIEF: Henderson Alternative Strategies Underperforms Benchmark

IN BRIEF: Henderson Alternative Strategies Underperforms Benchmark

4 Aug 20 14:28

IN BRIEF: Henderson Announces Resignation Of Director Mary-Anne McIntyre

IN BRIEF: Henderson Announces Resignation Of Director Mary-Anne McIntyre

7 Jul 20 14:45

DIRECTOR DEALINGS SUMMARY: Vitec CEO And Finance Chief Buy Shares

DIRECTOR DEALINGS SUMMARY: Vitec CEO And Finance Chief Buy Shares

28 Feb 20 16:56

Henderson Alternative Sets Date For Vote On Asset Realisation

Henderson Alternative Sets Date For Vote On Asset Realisation

24 Feb 20 11:30

Floundering Henderson Alternative To Sell Assets And Mulls Liquidation

Floundering Henderson Alternative To Sell Assets And Mulls Liquidation

16 Jan 20 11:21

Henderson Alternative Strategies Behind Benchmark Due To Burford Woes

Henderson Alternative Strategies Behind Benchmark Due To Burford Woes

26 Nov 19 14:34

BMO Smaller Companies Appoints Two Non-Executive Directors

(Alliance News) - BMO Smaller Companies PLC said Wednesday it has appointed Nick Bannerman and Graham Oldroyd as non-executive directors with effect from October 1.Bannerman is currently at

14 Aug 19 17:25
12

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.