Neil Woodford has been criticised by investment trust analysts for the late disclosure of the sale of a majority of his stake in Woodford Patient Capital Trust (WPCT), with a trio of brokers speculating the portfolio could be wound up.
In separate announcements to the market on Monday morning (29 July), the board of WPCT said it was considering sacking Woodford Investment Management (WIM) from the running of the trust. It added it had had preliminary discussions with interested third-party candidates. It also said Woodford had informed them he had sold 60% of his holding in the trust, which amounted to 1.75m shares, between 3 July and 8 July for personal reasons, including a tax liability. He now owns around 1.25m shares, representing 0.14% of the issued share capital. But many questioned both why Woodford needed to...
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