The Investment Company plc
The objective of the Company is to provide income and capital growth over the long term.
The Company aims to achieve its objective by investing in a portfolio of shares in companies and other asset classes such as corporate and government debt securities but will focus on UK companies with the potential for dividend growth. The Company additionally has the flexibility to invest in the shares of companies not listed or traded on a stockmarket. Investments in such companies will not, in aggregate, exceed 5% of the value of the Company’s investment portfolio at the time of investment.
The portfolio does not track any benchmark index, which means that the manager is not constrained to particular industry sectors and has a wider investment universe to choose from.
The Company has the ability to borrow up to 15% of the Net Asset Value of the Company. Where a borrowing facility is used, this will have the effect of magnifying any gains or losses made by the Company.
The target investors are institutions and individual retail investors
There is no fixed maturity date. There is no ability for the Company to terminate shareholdings of investors in the Company unilaterally or automatically. Shareholders can vote on an annual basis for the continuation of the Company as an investment trust. If shareholders vote in a simple majority against continuation, the Board would have to put forward a proposal for the future of the Company, which could include liquidation.
The Board has appointed Fiske plc as Investment Manager to the The Company. Established in 1973, Fiske is an independent stockbroking and investment management firm.
The Board has been granted authorisation by the FCA to be its own AIFM.
Non Mainstream Investment Products
The Board confirms that it conducts its affairs, and intends to continue to conduct its affairs, so that the Company’s Shares will be excluded securities under these new rules and will therefore be excluded from the FCA’s restrictions which apply to non-mainstream investment products. The Company’s Shares are excluded securities because the Company is an investment trust.
Information and Forms
All company announcements are available on the London Stock Exchange Regulatory News Service website