Henderson hits back in board spat with Ross

Ollie Gordon
The board of the Henderson Value Trust yesterday responded to reports about a disagreement which led to its chairman Shane Ross resigning.

In a statement to markets yesterday morning, the board said it thought it was “regrettable” Ross had briefed the Sunday Telegraph about “differences of opinion” on the board.

Ross had claimed that parts of his chairman’s statement had been deleted prior to publication and that this could impact shareholders’ opinion as to whether to keep the trust going at its next continuation vote, which dictates if the trust continues or winds up.

Deciding to wind up the trust and sell its assets could be beneficial for investors if its shares are trading at a wide discount compared with the net value of the trust’s assets.

However, the board said that the trust was subject to “some considerable change” since its previous continuation vote earlier this year, which saw the mandate switch to Henderson and new board members appointed.

It added that it wanted the process relating to its recommendations for the upcoming continuation vote to be “as thorough as possible”.

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