Summary
SECURITIES Trust of Scotland, which is fighting off a bid from rival investment trust Perpetual Income & Growth (Pigit), will issue its final defence document tomorrow.
The document is likely to reiterate the recommendation of STS's board that shareholders in the pounds-450 million trust should reject the Pigit offer, and successor trust New Securities will protect its dividend stream as well as offer income growth. It will also recommend shareholders wanting capital growth should opt for the Henderson managed trust Lowland.See the full content of this document
Extract
Sts to Issue Final Defence Against Pigit Bid
Neil Donaldson, chairman of STS, said: "Pigit's proposals offer shareholders only complexity and...
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