(Alliance News) - Trian Investors 1 Ltd on Friday said it aims to wind up during 2023 as net asset value fell in 2022.
Trian Investors 1 offers exposure to the investment activity of Trian Investors Management LLC.
The company said that its board and investment manager concluded that it would be for the best interest of shareholders to wind the company up during 2023 via an in-specie distribution of shares in the firm's two investment positions, which are plumbing and heating products distributor Ferguson PLC and Marmite-seller Unilever PLC.
Chair Mark Thompson explained: "Although the company's investments have continued to perform well, it became apparent during the year, and particularly after the extraordinary general meeting in August 2022, that it would be difficult to reconcile the conflicting short- and long-term aspirations of different investor groups."
Trian Investors 1 said NAV per share at December 31 fell 17% to 180.67 pence per share from 216.80p a year prior. In 2022, it turned to a pretax loss of GBP91.8 million from a profit of GBP164.7 million in 2021. The company declared no dividend, unchanged from a year ago.
Trian Investors 1 shares were flat at 179.00 pence each in London on Friday afternoon.
By Tom Budszus, Alliance News reporter
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Ferguson (FERG)
Unilever (ULVR)