Dexion Trading Limited has announced that intends to put proposals to shareholders to wind up the company.
The fund is shrinking by 30% in any case as the tender that took place in February was oversubscribed. Following the tender Dexion Trading reckon the fund will be around £64m in size and, if all tender requests had been satisfied in full, the fund would have been a lot smaller.
The vote will be held on 9 April and, if passed, DTL reckon the portfolio will have been sold and the proceeds received by the end of May 2014. Shareholders should get cash, according to the company’s timetable, by the end of June 2014.