SEC still has a 20% discount (258p share price versus 312p NAV) and the Directors own pitifully few shares so have little skin in the game and no incentive to sort this out.
I have registered my protest vote, via interactive investors’ excellent voting platform (NOTE TO HARGREAVES LANSDOWN – you really ought to provide a better voting service to your customers). I think my vote is a protest vote as it looks likely the directors will win. Other shareholders should consider their decision carefully. I am not allowed or qualified to give advice. Do your own research!
The company view is here…..
The shareholders proposal and rationale was reported here https://www.investmentweek.co.uk/news/4028507/calls-sec-trust-discontinuation-investors-aim-board
I previously wrote about SEC, see https://www.sharesoc.org/blog/collective-investments/investment-trust-discounts-what-to-do-about-them-and-sec-example/
Cliff Weight Director ShareSoc
DISCLOSURE: I own shares in SEC