Outcome from the 29 November 2016 EGM for the underlying fund of P27 FPIL Glanmore Property Fund
13 December 2016
Further to our update on the 11 November 2016, Friends Provident International is pleased to confirm that a special resolution was passed at the EGM to place the Glanmore Property Fund Limited in Voluntary Liquidation. James Robert Toynton and Ben Alexander Rhodes of Grant Thornton Limited and Sean Croston of Grant Thornton UK LLP were appointed as Joint Liquidators for the purpose of the winding up.
Please note that the Joint Liquidators intend to make an interim distribution of the majority of the Fund’s cash in the first quarter of 2017, provided that the Joint Liquidators are satisfied that all creditor balances have been identified and appropriate provisions have been made.
The Joint Liquidators do not intend to report to the investors until they are in a position to make a distribution or unless there are matters which need to be considered or agreed by investors. We will write to policyholders again as soon as we have a further update from Glanmore or the appointed Joint Liquidators.
Further information can be found in the client letter, which has been sent out to policyholders invested in this fund.
Should you have any questions regarding this update, please contact International Funds & Investments.