Released 07:00 10-Jun-2019
Woodford Patient Capital Trust plc
The Board of Woodford Patient Capital Trust plc (the "Company") notes the recent developments at Woodford Investment Management Ltd (the "Portfolio Manager").
Following the events relating to LF Woodford Equity Income Fund ("WEIF"), the Board also notes the reaction in the Company's share price and the share prices of certain quoted portfolio companies in which WEIF is also invested.
The Board is pleased with the operational progress of its portfolio companies, which the Board believes continue to have the potential to deliver attractive returns, in line with the long-term mandate of the Company. The operational performance of these businesses is not impacted by recent events.
Susan Searle, Chair, commented: "The Board is closely monitoring the situation and is engaging with its shareholders and advisers. Separately, the Board is in regular dialogue with the portfolio manager. The Board wishes to emphasise the long-term approach of the Company and will continue to keep shareholders updated as necessary."