The board of Schroders Capital Global Innovation (INOV ), formerly the Woodford Patient Capital investment trust, has brought forward its continuation vote from May to February.

A general meeting, which looks certain to lead a wind-up after a very chequered history, has been set for 27 February. The board said moving the meeting to an earlier date would provide the trust with more time to ‘dispose of its assets in an orderly manner’ in the hope of maximising potential gains and the return of capital to shareholders.

Articles have been amended so the ‘continuation resolution’ has been replaced with a ‘discontinuation resolution’, which will be presented to shareholders at the meeting.

Tim Edwards, chair of the trust, reiterated the board’s view that a wind-down was in the best interests of shareholders. This followed a consultation with shareholders, including activist value investor City of London which has a 14% stake.

‘Since taking over the management of the portfolio in 2019, Schroders has stabilised the company and repositioned the portfolio so as to seek to give shareholders access to venture and growth companies globally,’ Edwards said.

‘However, recognising the challenges associated with the legacy assets, alongside current market conditions, the board has taken the decision that it is in shareholders’ interest to pursue the managed wind-down.’

In its last set of results for the third quarter of 2024, the trust recorded a 4% drop in net asset value (NAV). Its assets have more than halved since Schroders replaced Woodford Investment Management as fund manager five years ago.

Since launch in April 2015 when it raised a then record £800m with former investment star Neil Woodford, the company’s market value has plunged to £81m with the shares trailing 50% below NAV.

Shares that listed at 100p traded at 10.8p at yesterday’s close.