Aurora Investment - Issue of Equity to Investment Manager
17/01/2024 16:06
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RNS Number : 0519A Aurora Investment Trust PLC 17 January 2024
17 January 2024
LEI: 2138007OUWIZFMAGO575
Aurora Investment Trust plc
(the "Company")
Issue of Shares in connection with the payment of Investment Manager's
Performance fee
The Company announces that it has today allotted 172,373 new ordinary shares
to Phoenix Asset Management Partners Limited, the Company's Investment
Manager. These new ordinary shares represent 80% of the performance fee due
in respect of 2022 and 2023 and have been allotted pursuant to the Investment
Management Agreement between the Company and the Investment Manager (the
"IMA"). The remaining 20% of the performance fee will become due following
publication of the Annual Report for the year to 31 December 2023.
The IMA performance fee provisions were summarised in the Company's Prospectus
dated 3 July 2019 and in the Company's Annual Report for the year to 31
December 2022.
The new ordinary shares will be subject to a 36-month lock-in following their
date of issue. The performance fee will also be subject to a fixed
three-year clawback period.
In accordance with the IMA, the price at which the 172,373 new ordinary shares
were allotted was the latest available published Net Asset Value per share as
at the date of allotment, being the Net Asset Value per share as at 16 January
2024 (which was 260.32 pence).
Applications will be made for the New Ordinary Shares to be admitted to the
premium segment of the Official List of the FCA, and to trading on the London
Stock Exchange's Main Market for listed securities ("Admission"). It is
expected that Admission will occur on or around 26 January 2024. The New
Ordinary Shares will rank pari-passu with the ordinary shares already in
issue.
Following Admission, the total number of voting rights of the Company is
76,250,833 and this figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or of a change to their interest in, the Company under the
FCA's Disclosure Guidance and Transparency Rules.
For further details contact:
Frostrow Capital LLP
Paul Griggs
Company Secretary to Aurora Investment Trust PLC
Tel: 020 3709 8733
Liberum
Corporate Broker
Chris Clarke
Tel: 020 3100 2000
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