Businesswoman Anne Heraty has invested €500,000 in energy efficiency company Vivid Edge, which was founded by former Bank of Ireland executive Tracy O’Rourke.
As his firm swings to £6m loss in what looks set to be its final full-year accounts
Neil Woodford and his right-hand man Craig Newman pocketed a £1.5m ($2m, €1.7m) payout in the months before his eponymous equity income fund shuttered and sparked the collapse of his funds empire.
Latest filings from Companies House show Woodford and his business partner helped themselves to one last interim dividend for the period covering April 2019 to March 2020 as their venture Woodford Investment Management swung to a loss and was forced to close.
The interim dividends were paid out to Woodford Capital, an unlimited company which counts Woodford and Newman as its sole directors. Woodford controls a 65% stake in the business, meaning he banked £975,000 of the total sum, while Woodford IM chief executive Newman bagged £525,000.
19
th April 2021 8:26 am
Neil Woodford and his fellow director Craig Newman took home a shared dividend of £1.5m just two months before the group’s funds were suspended.
In the latest accounts available for the period 1 April 2019 to 31 March 2020 for Woodford Investment Management, it shows interim dividends totalled £1.5m (the year before they shared £13.8m between them) which were declared in the two months to 31 May 2019 – ahead of fund management operations beginning to cease.
Dividends were paid to Woodford Capital, in which Woodford himself owns 65 per cent of shares, and Newman owning the remaining 35 per cent, resulting in a £975,000 and £525,000 split respectively.
Woodford and right-hand man scooped up £1 5m payout months before fund implosion portfolio-adviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from portfolio-adviser.com Daily Mail and Mail on Sunday newspapers.