In October last year, when the trust’s discount stood at nearly 60%, the board proposed a change to the capital allocation policy, with the aim of returning the first £100m of cumulative future realisations to shareholders, subject to it retaining a liquidity buffer.
Under the proposed changes, Chrysalis would maintain a working capital or liquidity buffer of up to £50m to ensure funds are available to support portfolio companies, if needed, as well as to cover fees and other running costs of the business.
In a stock exchange notice today (25 September), the trust said the debt facil…
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