Investment Co PLC - Chelmsford-based investor in a portfolio of equities, loan stocks, debentures and convertibles - Net asset value per share falls 9.5% to 315.11 pence as at June 30, the end of its financial year, from 348.28p the year before. Dividends paid at June end 12.25p, down from 18.20p. To change investment objective and policy with new objective being "wealth preservation and long term capital growth". Will invest in both quoted businesses as well as a portfolio of liquid reserves in cash, debt instruments and tangible assets such as gold bullion. Tom Cleverly and Michael Weeks join as new directors. Changes articles of association to revise continuation vote period to once every five years.
Current stock price: 290.05 pence, up 7.4%
Year-to-date change: down 16%
By Anna Farley; annafarley@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Investment Co. (INV)