Crystallising value for shareholders

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.

It is now the Board's intention to seek shareholder approval to transition the Company from the FTSE main market to AIM, renamed as Unbound Group PLC, as a parent company for Hotter Shoes, the Company's last remaining significant investment. Should this transition process, the Company will cease to be an investment trust in early 2022. 

Key investments

Hotter Shoes
UK’s largest shoe manufacturer with a strong focus on comfort and service.