Guinness Peat Group (GPG), the activist shareholder with stakes in a number of the UK's leading brewers and pub groups, has announced it will halt trading next week as it make its capital return to shareholders of some $158m (£97.9m).
Trading in the AIM-listed company’s shares will crease from 28 June and will resume on 6 July, which will allow it to finalise the shares cancellation that was approved by shareholders at the start of this month.
Last month, the group sold its 5.4% stake in Adnams, the Suffolk brewer and pub operator, for around £2.2m.
The investment company, which has still has stakes in Young’s, Thwaites, Shepherd Neame and Fuller’s, said in February this year that it would return at least £75m to shareholders this year as it planned to sell off its asset portfolio, leaving the investment holding firm with just its thread manufacturing business.
