Investment Manager Agreement

RNS Number : 2425J

Greenwich Loan Income Fund Ltd

26 March 2010

 



Greenwich Loan Income Fund Limited ("GLIF" or the "Company")

Investment Manager Agreement Variation

26 March 2010

The Board announces today that the Company has agreed to amend certain terms of the Investment Manager Agreement ("IMA") with its Investment Manager, T2 Advisers, LLC ("T2 Advisers") whereby:

• for the third quarter of 2010 and all following quarters the management fee payable to T2 Advisors will be reduced by 25 basis points from 2.00% of gross assets to 1.75% of gross assets.

•T2 Advisers has agreed to the cancellation of GLIF's Share Option Plan and has agreed to surrender the 555,555 options which it currently holds under this plan.

The directors consider, having consulted with its nominated adviser, that the aforementioned amendments to the IMA are fair and reasonable insofar as the Company shareholders are concerned.

Contacts:

Geoffrey Miller

Greenwich Loan Income Fund Limited

[phone]

Patrick Conroy

Greenwich Loan Income Fund Limited

[phone]

Philip Secrett

Nominated Adviser

Grant Thornton Corporate Finance

[phone]

Jos Trusted

Singer Capital Markets Limited

[phone]

Ed Gascoigne Pees

Financial Dynamics

[phone]

 

END

 

 

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