TP10 VCT Plc Vairation to Investment Management Agreement (6774S)
July 09 2015 - 1:10PM
UK Regulatory
TIDMTP10
RNS Number : 6774S
TP10 VCT Plc
09 July 2015
TP 10 VCT plc
Variation to Investment Management and Administration
Agreement
London 9 July 2015
On 16 April 2015, TP 10 VCT plc (the "Company") announced an
uplift in net asset value following a sale of a significant
proportion of assets by its portfolio companies operating in the
solar PV sector. Consequently, in the event that the Company is
able to make a substantial return of capital earlier than
anticipated, the Company has agreed that the exit fee payable to
Triple Point Investment Management LLP, the Company's investment
manager ("Triple Point"), will apply as it would have done if funds
had been returned after five and a half years in line with the
Company's investment strategy, provided that such exit fee will not
exceed the sum of GBP300,000 in respect of amounts returned to the
Company's shareholders prior to 1 October 2015.
Pursuant to a deed of variation dated 9 July 2015 (the "Deed of
Variation"), the investment management and administration agreement
dated 10 September 2009 between (i) the Company and (ii) Triple
Point, has been varied to reflect this change.
The Deed of Variation is such as to constitute a smaller related
party transaction as defined in Listing Rule 11.1.10.
For further information please contact David Burton or Claire
Ainsworth at Triple Point on 020 7201 8989.
About Triple Point
Triple Point is a private investment specialist with experience
in managing venture capital funds typically through Venture Capital
Trusts and companies qualifying under the Enterprise Investment
Scheme, with over GBP300 million under management.
In addition to funding small renewable energy ventures across
the UK, Triple Point provides private capital for a range of
enterprises from small private equity investments to asset finance
solutions for large, established organisations. With access to
capital sourced from private individuals Triple Point offers
advantages to organisations whose requirements are not being
satisfactorily met by standard providers and products.
www.triplepoint.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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