Nicola Horlick is planning a hostile takeover of the Bramdean Alternatives portfolio she manages, after it knocked back her bid to buy out its assets.
The statement clarifies the alternative assets investment trust is still for sale and adds shareholders will be given a reconstruction plan after an EGM on Friday.
It was revealed Horlick had discussions regarding a takeover of the fund earlier this month, after the company initially claimed it was in discussions with an anonymous bidder in April.
Property tycoon Vincent Tchenguiz, a 28% shareholder in Bramdean Alternatives, through his company Elsina, made a move in May to replace the board with new members who were committed to realising the fund's assets for shareholders.
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