Relationship with Pollen Street Capital
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL
2 March 2020
Honeycomb Investment Trust plc ("Honeycomb" or the "Company")
Relationship with Pollen Street Capital
In light of recent surprising news and comments surrounding Pollen Street Secured Lending plc ("PSSL") and its interaction with its manager Pollen Street Capital ("Pollen Street" or the "Manager"), I wanted to take this opportunity in my capacity as Chairman of Honeycomb to describe my and my Board's extremely positive relationship with Pollen Street.
The team at Pollen Street has managed Honeycomb since the company's inception in December 2015. Throughout the whole of that period my experience is that the team has acted at all times with absolute integrity, and good governance. Pollen Street's interaction with the Board has been transparent and collaborative and they, like us, have always been focused on managing the Company in the best interests of its shareholders.
We are very disappointed that the recent PSSL events have been presented in a way which implies that Pollen Street is in some way lacking in any of these qualities. I find some of the accusations very hard to believe, as they do not at all reflect the Honeycomb Board's relationship with or experience in dealing with Pollen Street.
I want to take this opportunity to assure Honeycomb shareholders that I and my Board colleagues have full confidence that the Pollen Street team will continue to manage Honeycomb with the integrity and good governance mentioned above, while continuing to deliver the strong risk adjusted returns to Honeycomb shareholders as they have done since 2015.
Liberum Capital Limited - Broker
Chris Clarke / Louis Davies: +44 (0)20 3100 2000
Camarco - Investor Relations
Eddie Livingstone-Learmonth / Jake Thomas: +44 (0)20 3757 4993
Link Company Matters Limited - Corporate Secretary
Paula O'Reilly: +44 (0)20 7954 9796
Pollen Street Capital - Investment Manager
Steve Plowman / Chris Palmer: +44 (0)20 3728 6750
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Latest directors dealings
- 53 minutes ago Croda International
- 1 hour ago Diageo
- 1 hour ago IMI
- 2 hours ago Softcat
- 5 hours ago Tertiary Minerals