As speculated late last week, Ellerston GEMS Fund will put a proposal to its unit holders next month recommending that the fund be delisted from the sharemarket. In a press release the company says that shareholders will be able to progressively redeem units at a price equal to a 7.5 per cent discount to the then NAV. Ellerston Capital's chief executive officer, Glenn Poswell, said that the move is a win-win for unit holders to unlock value now compared to the price the market has been prepared to trade their units.
