Statement re: Investment Manager

RNS Number : 2969W

Qatar Investment Fund PLC

27 January 2012

 



27 January 2012

Qatar Investment Fund plc

("QIF" or the "Company")

Statement re Investment Manager

The Board of the Company has been informed that Qatar Insurance Company S.A.Q. ("QIC"), the Company's Investment Adviser, has acquired 100% of the share capital of the Company's Investment Manager, Epicure Managers Qatar Limited ("EMQL"), from Unicos LLP.

David von Simson, Chairman, said: "The Board is pleased to have received this notification from QIC  which simplifies the structure of our investment management arrangements."

Qatar Investment Fund plc appointed EMQL as the Investment Manager of the assets of the Company and its subsidiary upon launch and EMQL has, since that time, had responsibility for the management of those assets. EMQL appointed QIC to act as the Investment Adviser to EMQL and the Company.

Shareholders will be aware that the Company does not have a fixed life and that, in accordance with the articles of association, at the annual general meeting of the Company in 2012, a resolution will be proposed that the Company ceases to continue in existence (the "Discontinuation Vote"). Shareholders holding at least 51% of the ordinary shares must vote in favour of the resolution for it to be passed.

As announced on 8 June 2011, the Board and its wholly owned subsidiary Epicure Qatar Opportunities Holdings Limited gave precautionary notice to EMQL of the termination of the Management Agreement. The termination is to take effect on 1 November 2012. The Board will take steps to ensure that appropriate investment management and advisory arrangements are considered at the time of the Discontinuation Vote.

The acquisition of the Investment Manager by the Investment Adviser does not affect the provisions of the Management Agreement which remain unchanged and in full force and effect.

For further information please contact

David von Simson, Chairman [phone]

Qatar Investment Fund plc

Ian Dungate/Suzanne Jones + 44 (0) 1624 692600

Galileo Fund Services Limited

Andrew Potts [phone]

Panmure Gordon

Joe Winkley/Neil Winward/Ashton Clanfield [phone]

Oriel Securities

William Clutterbuck/Sam Turvey [phone]

Maitland

 

END

 

 

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