At a General Meeting held on 30 October 2018, shareholders approved a change of the investment objective and policy to the following:
Electra’s investment objective is to follow a realisation strategy which aims to crystallise value for shareholders, through balancing the timing of returning cash to shareholders with maximisation of value.
The Company will not make any new investments but will continue to support its existing investments to the extent required in order to optimise returns.
The Company will retain sufficient cash to meet its obligations and to support its portfolio assets, with cash from realisations being invested in AAA rated money market funds pending utilisation or return to shareholders.
Should it be appropriate to utilise gearing in order to optimise the balance between timing of returning cash to shareholders and maximisation of value the Company will maintain gearing below 40% of its total assets.