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30.07.2019 kl 11:00 2206

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29.07.2019:   https://www.ft.com/content/ab026c6c-b1c8-11e9-8cb2-799a3a8cf37b

Woodford under more fire after £1m trust share sale

«Neil Woodford’s relationship with the London Stock Exchange-listed investment trust that bears his name has blown apart after he dumped a £1m shareholding but failed to notify the company of the share sale for three weeks.

Britain’s best-known stockpicker has also informed investors in his flagship Equity Income fund that they face the prospect of being locked in the £3.5bn vehicle until December.

Ian Hunter, a shareholder in WPCT, said investors in the trust would find it “disgraceful” that Mr Woodford had sold such a large parcel of shares without making that sale public. “The market has been kept in the dark,” he said. “Neil Woodford should be made to stand in front of the Treasury select committee to explain himself as soon as possible.”

WPCT said Mr Woodford was a “reluctant seller” of the 1.75m WPCT shares but was forced to seek funds after deciding not to take any income or dividends from the equity income fund. He retains 1.25m shares in the trust, a 0.14 per cent stake.

“The sole reason that he did so was in order to meet personal financial obligations, including a tax liability,” Woodford Investment Management said.

WPCT’s shares dropped 5 per cent to a fresh all-time low of 50.6p on Monday, down by half from their 52-week high. The shares have fallen a third since the equity income fund blocked investors from withdrawing their capital last month.

Taking on a new manager could have serious implications for WPCT, including higher fees.»


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Woodford har solgt personlig eide andeler i WPCT.

Redigert 30.07.2019 kl 17:25

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