# Woodford Patient Capital Trust plc Company Update

- Link: https://www.directorstalkinterviews.com/woodford-patient-capital-trust-plc-company-update-2/412788679
- Published: 2019-07-29T07:37:00+01:00
- Author: Giles Arbor

The Board of **Woodford Patient Capital Trust plc** (LON: WPCT), as stated in the
announcement on 28 June 2019, has been closely monitoring the situation at Woodford
Investment Management Limited and remains focused on preserving the value of WPCT’s
portfolio and protecting the interests of shareholders in WPCT.

The Board has been working with the Portfolio Manager to assess the funding requirements
of its investee businesses and to reduce borrowings which, as at 25 July 2019, were
£117.4 million equating to a gearing position of 15.95 per cent. of Net Asset Value.
The Board has also held preliminary discussions with select management groups that
have approached the Company regarding the ongoing management of WPCT.

The Board continues to monitor and assess all options available to it. Therefore,
whilst the Board remains confident in the Portfolio Manager’s commitment to WPCT
and the current day-to-day management of the portfolio, the Board intends to engage
with a broader range of third-party managers in order to undertake a full assessment
of all potential management options, which may or may not lead to a change in the
Company’s management arrangements.

The Woodford Patient Capital Trust Board will update the market in due course, as
appropriate.

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