Emcit converts to unit trust
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Emcit converts to unit trust
THE BOARD of Emerging Markets Country Investment Trust (Emcit) announced proposals yesterday for the winding up and unitisation of the company. Under the proposals, which will be voted on by shareholders on 27 March, the company would be liquidated, its assets placed in Emerging Markets Country Trust and units distributed to shareholders. City of London Investment Management - Temcit's managers - said: "This is a painless way of shareholders realising the value of their investment." Earlier this week the chairman of the pounds 185m Overseas Investment Trust resigned, just days before the board was due to publish proposals for the future of the company.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments