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This stronger position has meant that the belief has been in a position to review its portfolio and to take motion not driven by a determined search for dividend earnings. We have created a ‘Pandemic Portfolio’, being those firms within the portfolio whose shares have fallen to a level most likely never seen earlier than and definitely properly beneath the lowest ranges reached within the Great Financial Crisis. It is our perception that purchases made at this time in what are good, well run firms will produce robust returns sooner or later. In this Covid-19 disaster, the trust finds itself in a much stronger position than in 2008. At this time the monetary gearing is offered by the Zero Dividend Preference shares, which don’t have any covenants and are in place till April 2025.
None of the Directors has or has had any interest in any …
