IN BRIEF: UK Mortgages Still Opposes Offer, Plans Strategy Review

UK Mortgages Ltd - closed-ended investment company incorporated in Guernsey - Reiterates view ...

Alliance News 7 August, 2020 | 8:14PM
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UK Mortgages Ltd - closed-ended investment company incorporated in Guernsey - Reiterates view that M&G Investment Management Ltd's offer materially undervalues the company and its prospects. Will not engage on a proposal that it views as going against the best interests of shareholders. No contact made with M&G Investment Management and no further proposal since rejection of offer July 19. Commits to "a review of future strategy" once it is no longer in an offer period. Strategy would seek to maximise value, provide pathway to enhanced liquidity, and narrow or remove share price discount to net asset value. Says review "would not consider a formal sale process" or merger.

Current stock price: 62.50 pence

Year-to-date change: down 8.3%

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
UK Mortgages 65.72 GBX -3.00 -

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