The proposed wind-up of the £40.7m Rockwood Realisation investment trust – formerly called Gresham House Strategic – has been overturned following its annual general meeting yesterday (25 April).
More than 95% of shareholders voted for proposed changes in the investment strategy to take place as opposed to a wind-up of the trust, despite Gresham House calling for a managed two-year wind-down of the vehicle and for the initial return of capital via a B share scheme at the end of last year. The dispute initially arose after shareholders accounting for almost half of the trust - of which the parent of its former investment manager Gresham House plc accounted for a significant proportion - called for an immediate return of capital to shareholders after its strategic review was deemed...
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