Acorn Income Fund Ld Share Price (AIF)

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Share Name Share Symbol Market Type Share ISIN Share Description
Acorn Income Fund Ld LSE:AIF London Ordinary Share GB0004829437 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
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  0.00 0.0% 367.50 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 4.22 3.53 22.31 16.5 58
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 367.50 GBX
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Date Time Title Posts
07/2/202210:15Acorn Income I. T.338

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Posted at 27/1/2023 08:20 by Acorn Income Fund Ld Daily Update
Acorn Income Fund Ld is listed in the General Financial sector of the London Stock Exchange with ticker AIF. The last closing price for Acorn Income Fund Ld was 367.50p.
Acorn Income Fund Ld has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 15,916,687 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Acorn Income Fund Ld is £58,493,824.73.
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Posted at 12/11/2021 14:52 by speedsgh
Publication of Elections and Residual Net Asset Value per Ordinary Share - HTTPS://www.investegate.co.uk/acorn-income-fund--aif-/prn/publication-of-elections--amp--residual-nav-per-ord.-share/20211112144333P5B68/

Further to the Company’s announcement on 12 October 2021, in which the Company was placed into liquidation, the Company announces the elections from Ordinary Shareholders (including deemed elections) and Residual NAV per Ordinary Share under the terms of the Scheme:

Elections

Shares Option (A Shares): 8,721,365 Ordinary Shares with “A” rights, being Ordinary Shares with the entitlement to receive income shares in Unicorn UK Income Fund (“UKI Shares”), an open ended fund managed by Unicorn Asset Management.

Cash Option (B Shares): 7,095,322 Ordinary Shares with “B” rights, being Ordinary Shares with the entitlement to receive cash.

Residual NAV per Share

The Residual NAV is £64,965,033.24 and the Residual NAV per Share as at the Calculation Date of 9 November 2021 is 410.7373 pence. Of this Residual NAV, £706,870.00 equivalent to 4.4691 pence per Ordinary Share, will be transferred to the Retention Fund held by the Liquidators. These amounts are in respect of a single security from the fixed interest portfolio that the Liquidator has been unable to sell, and which does not meet the investment objective of Unicorn UK Income Fund and therefore is deemed inappropriate to be part of the in specie transfer of assets, and the Liquidators’ retention of £10,000. Cash received from future sales of this security will be returned to all Ordinary Shareholders (on the register as at the Record Date), both those electing for the Cash Option and those electing for the Shares Option, on a pro rata basis at a later date. Although the security may be sold sooner, for guidance, it has a maturity date in 2024 when it is currently expected to redeem at par.

The remaining balance of £64,258,163.24 equivalent to 406.2682 pence per Ordinary Share, will be divided between electors for the Cash Option and the Shares Option in the same proportions as the elections as stated above. Therefore, Ordinary Shareholders will imminently receive the following cash and/or number of UKI Shares:

~ For Ordinary Shareholders that elected to receive UKI Shares, each Ordinary Share with “A” rights attached to it will receive 1 UKI Share and the opening NAV of each UKI Share will equal 406.2682 pence.

~ For Ordinary Shareholders that elected for the Cash Option, each Ordinary Share with “B” rights attached to it will receive 406.2682 pence in cash. Cheques are expected to be despatched and electronic bank transfers made in respect of the Cash Option during the week commencing 15 November 2021. Entitlements shall be rounded down to the nearest £0.01, as the case may be.

[continues]
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Posted at 12/11/2021 12:34 by stueybabes
Definitely a bit shoddy not to have had at least a holding announcement by now. I notice that both the ordinary shares and the ZDPs were officially removed from the LSE as of 8am this morning, having merely been suspended up to that point, so that suggests we are close to hearing the final numbers.

Thankfully, the FTSE Small-Cap index has been reasonably firm since the last NAV announcement on 8 October therefore you would hope the disposals that were needed have been made into a rising market. Looking at the share prices of some of the top holdings reported in the interims there doesn't appear to have been any significant price weakness over the past month. Polar Capital did dip a bit but has recovered.

I have swapped a couple of emails with the Chairman in the past so I have just sent him another on when we can expect to hear some news.
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Posted at 12/11/2021 10:33 by rcturner2
This is what my broker (ii) has said:

Record date: 11th October 2021
Effective date: 12th October 2021
Offer price: Units in Unicorn UK Income Fund or cash at a rate to be determined
Pay date: On or around 15th November 2021
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Posted at 12/10/2021 11:22 by speedsgh
All proposals passed at EGM this morning. AIF NAV on 9 Nov is d-day with respect to shareholder entitlements to cash/Unicorn UK Income shares...

HTTPS://www.investegate.co.uk/acorn-income-fund--aif-/prn/results-of-egm/20211012112745P5815/

As a result of the passing of the Resolutions, the Company has been placed into liquidation pursuant to Section 391(1)(b) of the Companies Law and Benjamin Alexander Rhodes and Andrea Frances Alice Harris of Grant Thornton Limited have been appointed as Liquidators.

Shareholder entitlements under the Scheme
A further announcement is expected to be made on or around 10 November 2021 detailing shareholder entitlements to cash and/or Unicorn UK Income Shares pursuant to the Scheme (such entitlements to be calculated by reference to the NAV of the Company’s Shares and of Unicorn UK Income Fund’s Shares as at 9 November 2021.
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Posted at 11/10/2021 16:02 by adrunkenmarcus
I sold my AIF in the market because I didn't like the proposed new global mandate. I was annoyed afterwards. On the other hand, the proceeds went into BRSC which has performed well!
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Posted at 23/9/2021 07:03 by speedsgh
AGM/EGM set for 12 Oct...

Publication of Circular: Scheme of Reconstruction and Winding Up - HTTPS://www.investegate.co.uk/acorn-income-fund--aif-/prn/publication-of-circular-announcement/20210923070100P8159/

Final interim dividend of 7.5p payable 8 Oct (XD 30 Sept) in respect of remaining estimated revenue reserves as at 22 Sept. No further dividend payments anticipated...

Dividend Announcement - HTTPS://www.investegate.co.uk/acorn-income-fund--aif-/prn/dividend-announcement/20210923070200PC9EE/
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Posted at 12/8/2021 06:58 by 8w
AIF was likely to be wound up with the BMO proposal, let's hope the next option reflects at least some of the current characteristics of the AIF we bought into.
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Posted at 12/8/2021 06:16 by speedsgh
Dividend Declaration and Update on Future of the Company - HTTPS://www.investegate.co.uk/acorn-income-fund--aif-/prn/dividend-declaration-and-update-on-future-of-the-company/20210812070000P1220/

Dividend declaration

The Directors are pleased to declare a third interim dividend for the year ending 31 December 2021 of 5.75p per Ordinary Share, which is in line with the corresponding dividend for the year ended 31 December 2020 and also that of the first and second interim dividends for 2021.

Ex-Dividend Date: 9 September 2021
Record Date: 10 September 2021
Payment Date: 30 September 2021

Dividend per Share: 5.75 pence per Ordinary Share (Sterling)

Update on the future of the Company

Further to the Company’s announcement on 17 May 2021, where the Board of the Company announced proposals to recommend the appointment of BMO Global Asset Management to manage the Company under a new Sustainable Global Equity Income investment strategy (the “BMO Proposal”), the Board has received further interest from managers regarding the future of the Company. Despite the Board continuing to believe that the BMO Proposal is an attractive investment proposition, after careful consideration of shareholder feedback the Board has concluded that an alternative proposal to the BMO Proposal may represent a more suitable proposition for the Company’s shareholders.

Given the continued shareholder consultations and the review process of alternative proposals, the Company confirms that the Extraordinary and Annual General Meetings will not be held in August 2021 as previously expected. An announcement with further details on the future of the Company will be published as soon as practicable and expected to be no later than mid-September. Thereafter, the Company expects to publish a circular in relation to the Board's proposals for the future of the Company, including a notice convening the Extraordinary and Annual General Meetings.
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Posted at 09/8/2021 20:44 by adrunkenmarcus
I sold my AIF around 360p as I didn't like the new mandate (as proposed). The proceeds mostly went into BRSC, since up about 12% including a dividend. I didn't like selling at a NAV discount but BRSC has produced a return, so far, equal to about 403p per AIF share I sold.
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Posted at 04/8/2021 13:09 by whilstev
NAV is currently over 20% above the share price. They need to come up with a cunning plan to convince share holders to vote for continuation.
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Acorn Income Fund Ld share price data is direct from the London Stock Exchange
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