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Investment trust shareholders offered rollover option


Shareholders in the Olim Convertible Investment Trust are to be offered the opportunity to rollover their investment into the Aberdeen Preferred Income Trust when it is wound up on May 28.


The Aberdeen Preferred Income Trust and its subsidiary Aberdeen Preferred Securities is set to raise a further £20m with a new issue of ordinary shares and zero dividend preference shares.


The trust is also to increase its bank borrowings by £10m.


The issue and the additional borrowings are likely to increase total assets of the trust to almost £400m taking into account the assets coming from Olim.

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