Change of Adviser

RNS Number : 0841B

Bluehone AIM VCT2 PLC

11 February 2011

 



To:                       RNS

From:                   Bluehone AiM VCT2 plc

Date:                    11 February 2011

Subject:               Change of Manager

The board of Bluehone AIM VCT 2 PLC announces that, with effect from 10 February 2011, Maven Capital Partners UK LLP ("Maven") has been appointed as manager in place of Bluehone Investors LLP.  In due course Maven will also be appointed Secretary and provide company secretarial and administrative services to the Company.

The Board will propose resolutions at the forthcoming annual general meeting of the Company to change the name of the Company and for it to adopt a more generalist investment objective.

Under the investment management agreement, Maven will receive an investment management fee of 1.5% of total assets per annum, paid quarterly in arrears, and a performance fee of 15% on terms and above a high watermark to be agreed in due course. An annual fee of £70,000 will be payable to Maven for the company secretarial and administrative services.

The Board has negotiated a two-year waiver of the investment management fee.

The investment management agreement will continue for a minimum of three years and is terminable by either the Company or Maven on at least 12 months' notice.

Registered office and points of contact

The Company will change the location of its registered office to:

9 - 13 St Andrew Street

London EC4A 3AF

Contact can be made with the Chairman and/or the new Manager at:

149 St Vincent Street

Glasgow

G2 5NW

Telephone:      [phone]

Email:              [e-mail]

Issued on behalf of the Board

F&C Asset Management plc

Secretary

11 February 2011

 

END

 

 

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