Shareholders in the troubled Invesco Property Income trust have been told they are likely to lose their entire investment after it was suspended pending an effective firesale of its assets.
In a stark warning to investors, the trust's board said in a statement it was being forced to sell-off its assets to repay debtors sooner than expected, with shareholders likely to receive nothing back. It said it was "virtually certain that there will be no return for shareholders on completion of the Company's winding up." Launched in 2004 and currently run by Rory Morrison, the trust has also been suspended from trading by the FCA following discussions with its lenders. The trust said discussions with its lending banks had seen it granted a three-month extension to its borrowing...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
