StockMarketWire.com - Highbridge Multi-Strategy said net asset value per share has increased 2% in the first half of the year as retained income exceeded expenditure on buybacks in the first half of the year. The company also said that if net assets fail to reach £80m it would put forward a discontinuation vote.

Net asset value per share rose 2.17% to £2.19 and sterling share price increase

The results come just months after the company on 17 June announced that its investment manager Highbridge Capital Management would close the Highbridge Multi-Strategy Fund Corporation and refocus their business exclusively around Highbridge's credit strategies.

The company called a general meeting on 16 August 2019 to seek approval to change the company's investment policy to allow investment into the Credit Fund. Shareholder representing approximately £73.5m of the company's NAV would remain, though this amount was less than the £100m level that management had set as a minimum for continuation.

But the company it had the potential to grow its net asset value above £100m, should it continue to trade.

‘If the company continues the board has been clear regarding growth expectations and if the company's NAV has not reached £80 million by the end of 2020 a discontinuation vote will be put to shareholders,’ the company said.



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