Honeycomb Investment Trust PLC - London-based investment trust - Announces intention to merge with Pollen Street Secured Lending PLC, a trust part of the Pollen Street Capital Group that also owns Honeycomb's investment manager Pollen Street Capital Ltd. Merger with Pollen Street allows both companies to increase their scale with assets totalling around GBP1.5 billion, diversify its portfolio and put combined entity in a place to "take full advantage of any improvement in the market environment." Says Pollen Street shareholders will receive 0.9 shares in the trust for each share of its own, giving shareholders approximately 65% of combined group ownership. Honeycomb must announce firm intention or not by September 3.
Current stock price: 785.00 pence
Year-to-date change: down 19%
By Neetika Kurup; neetikakurup@alliancenews.com
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