Govett High Income restructure plan

The Govett High Income Investment Trust (GHIT) has taken pre-emptive action to reduce the risk of br...

The Govett High Income Investment Trust (GHIT) has taken pre-emptive action to reduce the risk of breaching its asset cover by putting forward proposals to issue up to 90 million shares. Under the shareholder proposals, to be voted on at an AGM on 9 August, the structure of the split capital trust will be enhanced through the issues of up to 75 million income shares and 15 million new zeros, with a view to ensuring that the dividend on the existing ordinary shares is maintained. The proposals also aim to enhance the prospects for capital growth within the overall portfolio and ...