Schroder UK Public Private Trust (Woodford’s WPCT) completes asset sale to Rosetta Capital: shareholders screwed again
By Nigel Somerville | Monday 15 March 2021
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Neil Woodford’s shambolic Patient Capital Trust (WPCT) – now Schroder UK Public Private Trust (SUPP) after Woodford’s disgrace – has announced the completion of an asset sale to bring in £52.9 million. In theory this is good news, but since the original sale was announced as being at a 19% discount and the vast majority of the cash is being used to part-pay the bank there really isn’t much to celebrate for shareholders.
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