LONDON (Alliance News) - Lazard World Trust Fund said Friday it will return GBP70 million to shareholders as part of its plan for a managed wind-down of the company through divestment of investments and share redemption.
The fund will return around GBP2.18 per share on February 1 by way of a redemption of a proportion of all shareholders' holdings of shares. Further redemptions will be effected as additional cash reserves are made available for distribution from the company's assets being realized.
Shares in Lazard World Trust were trading 0.9% higher at 334.84 pence each on Friday afternoon.