26th Jun 2019 11:28
(Alliance News) - Amati AIM VCT PLC on Wednesday said it intends to raise new capital towards the end of 2019 via a share subscription offer.
In a short statement, the investment trust said the timing of the share offer and the amount raised will depend upon the availability of suitable investment opportunities.
On Monday, the trust's investment manager, Amati Global Investors Ltd, issued a statement assuring investors over liquidity of funds following worries over the illiquidity of embattled fund manager Neil Woodford's equity funds.
At the beginning of June, Woodford took the decision to suspend withdrawals from his equity income fund due to "an increased level of redemptions", with the fund now needing time to "reposition" its portfolio invested in unquoted and less liquid stocks into more liquid investments.
Amati Global - which manages its UK Smaller Cos fund, an inheritance tax service, and London-listed Amati AIM VCT - on Monday said 59% of its holding in its UK Smaller UK fund could be sold within seven days, which Amati described as "high levels of liquidity".
Shares in Amati AIM VCT were trading 0.3% lower at 141.04 pence each in morning trade.
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Amati Aim Vct