Trust reducing spread

The board and managers of the Close Finsbury Trust are to meet with their market makers, HSBC, on 19 June to discuss ways of reducing the current price spread on the trust. Jamie Borwick, chairman of the trust, said: 'The gap between the prices at which these dealers, who are entirely independent of the company and outside its control, will buy and sell our shares (the bid-offer spread) has routinely been above 15% and, in the case of one market maker, exceeds 25%. 'This may mean that shareholders will have to pay a price for our shares that is far and away from the mid-market price pub...