Issue of Equity to the Fund Manager

RNS Number : 2154A

Aurora Investment Trust PLC

31 January 2022

 

31 January 2022

LEI: 2138007OUWIZFMAGO575

Aurora Investment Trust plc

(the "Company")

Issue of Shares in connection with the payment of Fund Manager's Performance fee

The Company announces that it has today allotted 69,738 ordinary shares ("New Ordinary Shares") to Phoenix Asset Management Partners, the Company's Fund Manager, in relation to 80% of the performance fee which has become due in respect of the year to 31 December 2021. The New Ordinary Shares have been allotted pursuant to the Investment Management Agreement, details of which were disclosed in the Company's Prospectus dated 3 July 2019 and in the Company's Annual Accounts for the year to 31 December 2020. The remaining 20% of the performance fee will become due once the Audit for the year to 31 December 2021 has completed.

The New Ordinary Shares will be subject to a 36-month lock-in following the date of issue of the New Ordinary Shares. The performance fee will also be subject to a fixed three-year clawback period.

In accordance with the Investment Management Agreement, the price at which the 69,738 New Ordinary Shares were allotted was the latest published Net Asset Value per share as at the date of allotment, being the Net Asset Value per share as at 28 January 2022 (which was 254.37 pence).

Applications will be made for the New Ordinary Shares to be admitted to the premium segment of the Official List of the FCA, and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). It is expected that Admission will occur on or around 7 February 2022. The New Ordinary Shares will rank pari-passu with the ordinary shares already in issue.

Following Admission, the total number of voting rights of the Company is 76,589,413 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or of a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further details contact:

PraxisIFM Fund Services (UK) Limited

Jenny Thompson and Sugees Mahen

Company Secretary to Aurora Investment Trust plc

Tel: [phone]

Liberum

Corporate Broker

Chris Clarke

Tel: [phone]

 

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