Summary
GLASGOW Income Trust has beaten its expectations by 50-per cent to raise pounds-15m in a placing and subscription offer, boosting net assets to pounds-50m. The trust had hoped for pounds-10m, after a continuing record of market outperformance at a time when investors have been searching for income. Mike Balfour, pictured, who took over as chief executive 12 months ago, said: "We are looking forward to increased liquidity and a broader shareholder base as a result of the new shares.
We are extremely pleased with the funds raised, which will help to spread fixed costs over a larger capital base." The trust has outperformed the all-share index by 10-per cent over three years and by 45-per cent over five years on a total return basis.See the full content of this document
Extract
Glasgow Income Raises Pounds-15m
Balfour said...
See the full content of this document
Sponsored links
