Net Asset Value(s) - Replacement

RNS Number : 6580T

Amati VCT 2 plc

21 November 2013

 

The following replaces the announcement made on 4 November 2013 at 11.42am for the net asset value per share at 31 October 2013.

Amati VCT 2 plc

Amati Global Investors Limited ("Amati"), manager of Amati VCT 2 plc ("VCT"), announces that the previously announced net asset value per share has been adjusted to incorporate provision for a performance fee which may be due to the manager if the current level of performance is sustained.  The VCT's unaudited net asset value per share including the performance fee provision is 118.71p. 

AMATI VCT 2 PLC

Net Asset Value per share at 31 October 2013 including performance fee provision	Net Asset Value per share at 31 October 2013 excluding performance fee provision
118.71p	121.96p

The performance fee is uncertain as it depends on the movement of the net asset value per share to the end of the current performance period, which is 31 January 2014.  Furthermore, any performance fee calculated as due on 31 January 2014 must be sustained for a further six months (to 31 July 2014) in order for the performance fee to become payable.  

Following the appointment of Amati as manager in March 2010 an incentivisation scheme was put in place which provides for the payment of a fee on the achievement of various performance criteria.  As at 31 October 2013 the NAV Total Return (excluding the performance fee provision) since Amati's appointment is 43.2%, which compares to an increase in the FTSE Aim All Share Total Return Index of 17.0%.

Future net asset value announcements will include the net asset value per share including the performance fee provision only.

For further information please contact Doreen Nic on 0131 243 7215 or email [e-mail].

 

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