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Britannic selects JPMF Mercantile for roll-over

JPMorgan Fleming Mercantile Investment Trust has been selected by Britannic Smaller Companies Trust as the sole roll-over option for Britannics reconstruction.

JPMF Mercantile has developed an innovative reconstruction scheme to complete the transaction, which allows it to buy and hold shares in treasury before reissuing to Britannic shareholders. This is the first investment trust reconstruction to utilise treasury shares.

JPMF Mercantile has purchased three million shares at a discount of 11.4 per cent and will offer these to holders of Britannic at a discount of 8.4 per cent. Britannic estimates that shareholders who elect to roll-over will see the Nav of their holding increase by 5.8 per cent.


Sickness absence

Sickness absence — a key piece to the productivity puzzle?

We recently wrote about the productivity puzzle and how the UK lags very far behind most of the other major economies of the G7 on this particular measure. There are of course many pieces to this particular puzzle – and a timely report by The Work Foundation highlights how sickness absence plays a part in this issue also.


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