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Shareholders told to liquidate trust

Invesco Perpetual has outlined further details about the proposed wind up on its European Absolute Return investment trust on October 30, including shareholders’ options for rollover.

In an announcement to the stockmarket, the trust’s board said it is in shareholders’ best interests to liquidate the company.

In July the board of the trust announced proposals to restructure the investment trust after it failed its triennial continuation vote.

Shareholders have the option to take their payout in cash, or to roll their investment over into another vehicle. There are several options for rollover, including Jupiter European Growth, a sub-fund of the Jupiter Global fund, or the City Merchants High Yield Trust, run by Invesco Asset Management.

Overseas investors will not have the option to roll over but will have to take their shares in cash.

Invesco Perpetual has sent a circular to investors with more information on the plans and details of these two funds.

The trust’s final dividend for the year ended December 31 2008 was 5.25p per share. This was paid in the summer. The board may pay a final interim dividend before the trust is liquidated.

Related Articles:
Invesco trust fails continuation vote
Invesco wins in Skandia switch

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