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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Woodford Patient Capital Trust Plc | LSE:WPCT | London | Ordinary Share | GB00BVG1CF25 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 33.60 | 33.55 | 33.90 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMWPCT
RNS Number : 9503G
Woodford Patient Capital Trust PLC
29 July 2019
29 July 2019
Woodford Patient Capital Trust plc
LEI: 2138008X94M7OVE73I77
Company Update
The Board of Woodford Patient Capital Trust plc ("WPCT" or the "Company"), as stated in the announcement on 28 June 2019, has been closely monitoring the situation at Woodford Investment Management Limited (the "Portfolio Manager") and remains focused on preserving the value of WPCT's portfolio and protecting the interests of shareholders in WPCT.
The Board has been working with the Portfolio Manager to assess the funding requirements of its investee businesses and to reduce borrowings which, as at 25 July 2019, were GBP117.4 million equating to a gearing position of 15.95 per cent. of Net Asset Value. The Board has also held preliminary discussions with select management groups that have approached the Company regarding the ongoing management of WPCT.
The Board continues to monitor and assess all options available to it. Therefore, whilst the Board remains confident in the Portfolio Manager's commitment to WPCT and the current day-to-day management of the portfolio, the Board intends to engage with a broader range of third-party managers in order to undertake a full assessment of all potential management options, which may or may not lead to a change in the Company's management arrangements.
The Board will update the market in due course, as appropriate.
This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014.
Enquiries:
FTI Consulting Ed Berry Tom Blackwell 020 3727 1046 / 1051 Winterflood Investment Trusts Neil Langford Chris Mills 020 3100 0000
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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July 29, 2019 02:01 ET (06:01 GMT)
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