Amendment to Investment Mgmt agreement and fees

RNS Number : 8498M

Golden Prospect Precious Metals Ltd

18 September 2019

 

Golden Prospect Precious Metals Limited

(the "Company")

Amendment to Investment Management Agreement and Fee Arrangements

18 September 2019

Previously under the terms of an investment advisory agreement dated 22 July 2014 and a novation agreement dated 1 October 2015, the Company has appointed CQS Cayman Limited Partnership as its Investment Manager and CQS Cayman Limited Partnership has, with the agreement of the Board, delegated that function to CQS (UK) LLP.

The Company has with effect from 9 September 2019 entered into a new Investment Management Agreement to appoint CQS (UK) LLP Limited as its Investment Manager and the previous investment advisory agreement with CQS Cayman Limited partnership has been terminated.

The management fee has previously been charged at a rate of 1.25% per annum, paid monthly in arrears, on the Company's Net Asset Value.  With effect from 1 July 2019 the management fee will be charged at a rate of 1.25% per annum, paid monthly in arrears on the first £20 million of the Company's Net Asset Value and thereafter at a rate of 1.00% on Net Assets above that.

The Company also advises that the Performance Fee entitlement contained with the previous investment advisory agreement has been removed at no cost to shareholders.

Enquiries
CQS (UK) LLP      Craig Cleland	[phone]
finnCap Limited William Marle / Giles Rolls	[phone]
Maitland Administration (Guernsey) Limited Elaine Smeja / Aimee Gontier	[phone]

 

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