23rd Aug 2019 09:03
(Correcting that the company will make an announcement on Tuesday and not Monday as was originally stated.)
(Alliance News) - Woodford Patient Capital Trust PLC on Friday noted that Link Fund Solutions Ltd, which values the portfolio of the trust, will reduce the valuation of its holding in IH Holdings International Ltd.
The valuation adjustment reflects a reassessment of the current progress of the business, and is expected to hit the trust's net asset value per share by 3.4p per share.
The hit to Woodford Patient's net asset value as a result of the devaluation will be announced on Tuesday next week.
The stock was down 7.3% at 40.71p, the worst performer in the FTSE 250 on Friday.
At the beginning of June, Neil 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.
Since then, the investor has made numerous disposals of stakes in London-listed firms.
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