2nd Jun 2015 13:16
LONDON (Alliance News) - Standard Life UK Smaller Companies Trust PLC Tuesday announced a tender offer for up to 5% of its share in issue.
The trust said its directors and managers will not participate in the tender offer, citing their belief that the company "has continued to benefit from the investment management skills of Harry Nimmo, the portfolio manager of the company, since September 2003 and concur with his positive outlook for UK smaller companies".
"In the light of this and on the basis of the company's record of investment performance, neither the Directors nor any of the management team of the company will be tendering any of their shares in the company," the trust said in a statement.
Shares in the trust were up 1.4% at 317.00 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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