Is Woodford Patient Capital revamp enough to lure back buyers?

Shares still not a 'buy'

The overhaul of Woodford Patient Capital trust's (WPCT) board must go even further, according to industry commentators, as brokers continue to urge investors to think carefully about snapping up shares despite its 32% discount to net asset value (NAV).

The board of WPCT moved to address the concerns of key shareholders on Friday (28 June) by announcing a raft of measures in response to the ongoing crisis at Woodford Investment Management. Amongst them were a pair of board changes, with Stephen Cohen, formerly of Mercury Asset Management, appointed as a non-executive director (NED), tasked with chairing the trust's audit, risk and valuation committee. NED Carolan Dobson, meanwhile, has stepped down from the board, with the search now on for her replacement. Trust buyers split on Woodford Patient Capital Most welcomed these chan...