Still waiting with Bated Breath for something to happen on the Woodford front.
The share price surprises me a little, given that the market never likes uncertainty, and rather tends to punish stocks whenever the slightest hint of a bad odour wafts in the breeze.
One of the major remaining risks for completion of the Scheme transaction is the UK Financial Conduct Authority (FCA) investigation into Link’s connection/role/whatever, associated with Neil Woodford and his Funds.The D&D Scheme implementation in its current form, might well be, “at risk”, if there was a “material adverse event”. Thus, a harsh judgement from the FCA relating to demise of the LF Woodford Equity Income Fund, would not be good for LNK corporate value.
Of course, a favourable judgement by the FCA might bring new Offer/s and discourage any Class Action pariahs (we can only hope, anyway).
The spotlight is clearly on the FCA Review, with House of Commons, Treasury Committee, urging (10 January 2022) the FCA for a swift conclusion and noting in general that “the FCA is now preparing to decide whether to take regulatory action”. So much political and public interest and sensitivity around the whole saga means the Link’s role and actions, morally and legally, will have to have been pristine to avoid being dragged into the muck.
Either way the wind blows, Link the ASX listed entity will more than likely be sliced and diced, sooner or later.
