Issue of Shares to Fund Manager

RNS Number : 4490N

Aurora Investment Trust PLC

01 February 2021

 

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 issued 1,061,130 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 2020. The New Ordinary Shares have been issued pursuant to the Investment Manager's 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 2019. The remaining 20% of the performance fee will become due once the Audit for the year to 31 December 2020 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.

The New Ordinary Shares are being issued at the latest prevailing Net Asset Value as at 28 January 2021 of 200.43 pence per New Ordinary Share.

Applications will be made for the New Ordinary Shares to be admitted to the premium segment of the Official List, and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). It is expected that Admission will be at 8am on 4 February 2021. The New Ordinary Shares will rank pari passu with the ordinary shares already in issue.

Following Admission, Pheonix Asset Management Partners total holding will amount to 1,591,441 and the Company's issued share capital will consist of 76,164,873 ordinary shares. Therefore, the total number of voting rights of the Company is 76,164,873 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 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, Louis Davies

Tel: [phone]

 

END

 

 

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