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Biotech Growth seeks approval to change investment policy

06 March 2015 13:46

The Biotech Growth Trust is seeking shareholder approval for a change to its investment policy.

The directors, as advised by the company's AIFM and portfolio manager, are proposing that the company's borrowing limit be increased from 15% to 20% of net assets.

The directors believe that this amendment would be beneficial to shareholders as it would provide an increased level of flexibility to the company to participate in compelling investment opportunities as they arise. The company's approach to using borrowing will not change in practice and the level of borrowing adopted will continue to be reviewed and agreed with the directors and the company's AIFM from time to time, subject always to the proposed overall limit of 20% of the company's net assets.

The proposed change will be put to shareholders at a general meeting on 31 March.

At 1:46pm: (LON:BIOG) Biotech Gwth share price was +4.5p at 755p

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