Regulatory Story
Go to market news section View chart   Print
Lazard World Trust Fund   -  WTR   

Update and Interim Dividend

Released 08:49 08-Nov-2018

RNS Number : 7614G
Lazard World Trust Fund
08 November 2018

Lazard World Trust Fund (the 'Company')


Update and interim dividend


On 20 September 2018 it was announced that the continuation resolution put forward at the annual general meeting of the Company held on that day was not passed. Since then, the Board has received feedback from a significant percentage of the Company's shareholders as to the most appropriate course of action for the Company.


In light of the feedback received from shareholders, the Board has decided to put forward proposals to effect a managed wind-down of the Company, pursuant to which the Company will seek to realise its assets in an orderly and timely manner (the "Proposals"), followed by the liquidation of the Company once substantially all of the portfolio has been realised. The Company's shares would remain listed for as long as practicable during this process, whilst the Company intends to make periodic returns of capital to shareholders expeditiously.  The Board would only propose the appointment of a liquidator once substantially all of the Company's assets have been realised and the cash proceeds arising therefrom returned to shareholders.


A circular to convene an extraordinary general meeting to approve the Proposals will be published in due course.


Under Luxembourg regulations, shareholders are required to vote on these proposals, including (a) a change to the investment policy; and (b) amendments to the Articles.  Until these changes are approved by shareholders at the EGM, the Manager will continue to manage the portfolio in accordance with the current investment policy, although the Board has instructed Lazard to review the current portfolio with a view to enhancing liquidity ahead of a shareholder vote on the proposals. 


The publication of the circular is conditional on receipt of relevant regulatory approvals, in particular from the CSSF and the UKLA. 


Interim Dividend


The Board is pleased to announce the payment of the second interim dividend in accordance with the Company's dividend policy announced on 27 April 2018.


The second Interim Dividend of 5.835 pence per share is scheduled to be paid on 17 December 2018 to shareholders who appear on the register on 16 November 2018, with an ex-dividend date of 15 November 2018.




Lazard World Trust Fund


Cenkos Securities

Will Rogers/Alex Collins

020 7397 1920/1913


Link Company Matters

Jenny Thompson

020 7954 9599


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


Update and Interim Dividend - RNS