UK's SDCL Efficiency Income Trust slumps after proposed wind down
Today 08:35
BUZZ-UK's SDCL Efficiency Income Trust slumps after proposed wind down ** Shares of investment firm SDCL Efficiency Income Trust SEIT.L down 14.3% at 39.4 pence
** Stock among top losers across all London stocks
** Co to seek shareholder approval to wind down the business, to cease new investments, and focus on orderly asset sales
** Also seeks shareholder approval to cancel its share premium account to create reserves for returning cash to investors and to amend its articles of association to remove continuation vote provisions
** Suspends interim dividends and will not declare fourth interim dividend for year ended March
** Shareholders to vote on the proposals at a general meeting on July 10
** SEIT down ~24% YTD
(Reporting by Nithyashree R B in Bengaluru)