months due to the pressures of the remainder of its portfolio being concentrated in a smaller number of companies.
"As expected, the remaining portfolio is concentrated in a smaller number of companies. The board is fully aware of the implications of this position and is taking advice on the processes required to avoid jeopardising investment trust status and the favourable tax treatment that comes with it," Chairman
Meanwhile, the trust said it will no longer use its power to buy back shares in order to avoid the risk of dealing while in possession of non-public information of its listed holdings. Therefore, it will not ask shareholders to renew that authority at its upcoming annual general meeting.
The trust said its net asset value per share fell by 7.0% in the year ended
Renn shares were Monday quoted at
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