Change in management fee arrangement

RNS Number : 3153D

VPC Specialty Lending Invest. PLC

05 July 2016

 

VPC Specialty Lending Investments PLC (the "Company")

Change in management fee arrangement

Victory Park Capital Advisors, LLC, the investment manager to the Company, has agreed an amendment to the investment management agreement with the Company. Under the revised agreement, Victory Park Capital Advisors will invest 20 per cent. of its monthly management fee received from the Company into shares in the Company at the prevailing market price on an ongoing basis, provided that the shares are trading at a discount to the prevailing net asset value and the Investment Manager does not hold more than 10 per cent. of the voting rights of the Company.

Brendan Carroll, Senior Partner of Victory Park Capital Advisors, commented: "We have a strong belief in the investment proposition of VPC Speciality Lending plc. We have elected to invest 20 per cent. of our monthly management fee in the shares to demonstrate our commitment and confidence." 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Victory Park Capital Brendan Carroll (Senior Partner and Co-Founder) Gordon Watson (Partner, Investment Manager)	via MHP Communications (below)
Jefferies International Limited	Tel: [phone]
Gary Gould
Alex Collins
Stifel Nicolas Europe Limited	Tel: [phone]
Neil Winward
Mark Bloomfield
Gaudi Le Roux
MHP Communications (PR Adviser)	Tel: [phone]
Tim Rowntree Mark Lunn Kelsey Traynor	Email: [e-mail]

ABOUT VPC Specialty Lending Investments PLC:

VPC Specialty Lending Investments PLC invests in opportunities within the specialty lending market primarily through online lending platforms. The Company intends to generate an attractive total return for shareholders consisting of distributable income and capital growth via investments in a diverse portfolio of various platforms, asset classes, geographies (primarily U.S., U.K., Australia and Europe) and credit bands.

Since 2010, the Company's investment manager, Victory Park Capital, has been actively involved in the specialty lending marketplace and has made more than $4.5 billion of investments and commitments across a number of financial technology platforms, multiple geographies (U.S., U.K., Australia and Europe), products (consumer and business) and structures (whole loans and senior credit facilities).

Further information on VPC Specialty Lending Investments PLC is available at: http://vpcspecialtylending.com/.

 

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