The senior executives of the private equity division of Aberdeen Asset Managers, the Company's investment manager, have completed a management buyout of that business and have formed Maven Capital Partners UK LLP ('Maven') as a specialist, independent private equity investment manager.
Having reviewed the existing management contract and ascertained that it is satisfied with the performance of the Manager, and having made enquiries about the resources and viability of Maven, the Board has elected to novate the management contract in favour of Maven with effect from 9 June 2009.
By order of the Board
Maven Capital Partners UK LLP, Secretary
10 June 2009
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