Executive Summary
Tau Capital plc is a newly incorporated investment company established to allow investors the opportunity to realise returns through actively investing in both public and private businesses that are established, operating or have exposure to Kazakhstan. Although Kazakhstan focused, the Company will also seek investment opportunities in the Kyrgyz Republic, Uzbekistan, Turkmenistan, Tajikistan and Russia. These investments are proposed through the utilisation of the knowledge and skills of a highly connected and credible management team with a track record of successful investments in these countries. Each equity investment made by the Company in public equities or private companies will typically be between 5 per cent. and 15 per cent. of the fund's net asset value. Spencer House Compass Capital Limited will act as the manager to the Company and will be responsible for identifying, structuring and monitoring investments. The manager will delegate its responsibilities to Spencer House Capital Management and Compass Asset Management, the investment advisers, who together have experience in both investment and operational activities in Kazakhstan and the wider region since the mid 1990s, as well as the structuring of private company investments and asset management. The investment advisers will target a broad range of sectors, including oil and gas exploration and production, metals and mining, transport and logistics, consumer-related, telecommunications, financial services and business services. The Company shall have an unlimited life; however, if no investment is made within the 12 months following admission, the directors will convene a meeting of shareholders to consider whether to continue exploring investment opportunities or to wind up the Company and distribute any residual cash to shareholders.
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