7th Aug 2020 20:14
UK Mortgages Ltd - closed-ended investment company incorporated in Guernsey - Reiterates view that M&G Investment Management Ltd's offer materially undervalues the company and its prospects. Will not engage on a proposal that it views as going against the best interests of shareholders. No contact made with M&G Investment Management and no further proposal since rejection of offer July 19. Commits to "a review of future strategy" once it is no longer in an offer period. Strategy would seek to maximise value, provide pathway to enhanced liquidity, and narrow or remove share price discount to net asset value. Says review "would not consider a formal sale process" or merger.
Current stock price: 62.50 pence
Year-to-date change: down 8.3%
By Anna Farley; [email protected]
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