18th Oct 2019 15:19
(Alliance News) - Safe Harbour Holdings PLC said Friday that Woodford Investment Management Ltd now holds a 20% interest in the company, down from 26% in a transaction on Tuesday.
The reduced holding was due to voting control interest over the stock being transferred to a new manager. Safe Harbour did not specify what investment manager the stock was transferred to.
On Tuesday, Woodford Patient Capital Trust PLC said Woodford Investment Management had served a notice of termination in relation to its role as portfolio manager.
Earlier on Tuesday, Woodford Patient Capital said the corporate director of the LF Woodford Equity Income Fund had decided to wind the fund up.
Link Fund Solutions decided not to re-open the fund, and would be winding it up "as soon as practicable". Woodford Investment Management ceased, with immediate effect, to be the investment manager of LF Woodford Equity Income Fund.
Shares in the distribution-focused acquisition company were untraded in London, last quoted at 132.50 pence on Friday.
By Dayo Laniyan; [email protected]
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