UK - Principle Capital to be liquidated

The decision comes on the back of poor performance by PCIT in 2008, when the share price plunged 80%. So far this year the fund has seen something of a recovery and the price has doubled in the first quarter of 2009.

Myerson, who set up PCIT four years ago, is said to have called for a second extraordinary meeting on 16 April to rescind the decision.

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