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Blackstone Loan Financing Ltd - invests in floating-rate senior secured loans and bonds and in collateralized loan obligations - Board doesn’t think offering an immediate exit opportunity to shareholders is in the best interest of the company or the shareholders. Says board and its advisers formed this view following consultations with shareholders. ‘There was no consensus for the creation of a run-off share class to sit alongside a continuing share class given the potential reduced liquidity of both such share classes,’ Blackstone Loan Financing says. ‘There was some appetite, but not consensus, for the entire fund being placed into run off.’ Says will use share buybacks to try to reduce the discount of the share price to net asset value, but may put forward a continuation vote to the 2024 annual general meeting if there is no significant improvement to the discount before then. The company holds its AGMs in July. Current stock price: 64.10 pence, down 3.6% in London on Friday 12-month change: down 0.6% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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