Net Asset Value(s)

RNS Number : 7962M

Polar Capital Technology Trust PLC

01 May 2018

 

POLAR CAPITAL TECHNOLOGY TRUST PLC

Legal Entity Identifier: 549300TN1O5392UC4K19

1^st May 2018

Net Asset Value

As at close of business on 30^th April 2018 the unaudited net asset value per share, calculated in accordance with the AIC formula (including current year deficit and based on bid market values) was 1,159.69p.

As at the close of business on 30^th April 2018 the NAV adjusted, as described below, for the purposes of calculating the performance fee, is 1,168.25p per share and the current benchmark-adjusted high water mark is 1,111.29p per share.

The Company therefore expects, subject to audit, to pay a performance fee in respect of the financial year just ended to the investment manager.   The performance has been accrued daily.

Performance fee Arrangements

Polar Capital Technology Trust plc may pay a performance fee to its investment manager, Polar Capital LLP, which would be payable after the year end, as a result of outperformance over the benchmark index, if the NAV per share (after adjusting for share buy backs and issuance and any previous accrual for the performance fee) exceeds the benchmark-adjusted high-water mark. The precise amount of any performance fee payable is capped in accordance with the terms of the Investment Management Agreement and will be subject to external audit.

The high-water mark is the higher of the benchmark-adjusted NAV per share when the last performance fee was paid or the benchmark-adjusted NAV per share at the previous year end.

The performance fee, if any will be accrued daily within the NAV per Share.

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For further information, please call:

Patrick Stuff

Investment Trust Operations Department

Polar Capital Partners Limited                    Tel: [phone]

 

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