Investment Management Agreement change

RNS Number : 7163T

Lindsell Train Investment Trust PLC

31 March 2016

 

Lindsell Train Investment Trust plc

Amendment to the Investment Management Agreement to change the calculation methodology for the Management Fee.

The Board announces that it has agreed with Lindsell Train Limited ('LTL') an amendment to the calculation of the Investment Management Fee described in the Investment Management Agreement dated 13 August 2014

Under the current Investment Management Agreement, Lindsell Train Limited as the Manager is entitled to receive an Investment Management Fee by reference to the Market Capitalisation of the Company.  Both Parties have agreed that the Investment Management Fee should be amended to ensure that LTL no longer earns a fee on the proportion of the Market Capitalisation that is attributable to any share price premium to the Company's Net Asset Value ('NAV').  In consequence, with effect from 1 April 2016, the Investment Management Fee will be calculated by reference to the lower of the Market Capitalisation or the NAV of the Company.

Phoenix Administration Services Limited
31 March 2016

Enquiries:

Michael Lindsell - 020 7808 1210

Corporate Secretary - 01245 398950

 

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