Threadneedle UK Select Trust agrees merger

Threadneedle UK Select Trust Ltd has agreed heads of terms with the board of HHI and Henderson Investment Funds Ltd in respect of a future merger with HHI via a reconstruction and winding up of the company.

Shareholders would be offered the opportunity to exit their investment for cash at close to net asset value.

Threadneedle UK Select Trust said the agreement came after it reached the view that, in its present form, the company was not able to continue.

It said the proposals would be subject to approval by the shareholders of both companies in addition to required regulatory and tax approvals.

At 9:27am: (LON:UKT) UK Select Trust Ltd share price was +10p at 210p