Prime Trust Action Group Unitholder Update No. 34 – 17 April 2018
Further to our recent Update (No. 33 dated 22 February 2018), we would like to inform investors that the Liquidator has recently issued a Declaration in respect of the liquidation of Prime Trust
In the Declaration, the Liquidator states that:
“… we have reasonable grounds to believe that there is no likelihood that Unitholders will receive a distribution in the course of winding up and that the units of Prime Trust have no or negligible value.”
Although we are of course unable to provide taxation or other advice to investors, we would suggest that investors may wish to discuss the attached Declaration with their tax adviser in order to determine whether capital losses in Prime Trust can now be claimed by investors, as well as the quantum of any such capital losses.
We intend to issue a further Update in mid-2018 but will certainly advise all PTAG members earlier if there are any significant further developments.
Prime Trust Action Group