REG - Aurora UK Alpha PLC - Clawback and cancellation of shares

Aurora UK AlphaAnnouncement

15/01/2025 16:30

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RNS Number : 4844T  Aurora UK Alpha PLC  15 January 2025

15 January 2025

 

 

Aurora UK Alpha plc (the "Company")

LEI: 2138007OUWIZFMAGO575

 

Clawback and cancellation of shares

 

The Company announces that in accordance with the Investment Management
Agreement in place between the Company and Phoenix Asset Management Partners
Limited ("Phoenix" or the "Investment Manager"), Phoenix has transferred
89,096 shares to the Company and these have been cancelled.

 

Phoenix does not earn an ongoing annual management fee, but instead is paid an
annual performance fee, equal to one third of the outperformance of the
Company's NAV against its benchmark, FTSE All-Share Index (total return).

 

The performance fee is paid by way of the issuance of ordinary shares, which
are subject to a fixed three-year clawback period. If the outperformance
versus the index reverses on the third-year anniversary, some or all the
issued shares will be returned by the Investment Manager, and if
outperformance fully reverses, the Investment Manager will receive nothing.

 

The clawback period in relation to the performance fee for the year ended 31
December 2021 ended on 31 December 2024 and this resulted in an entitlement to
claw back 89,096 shares from Phoenix. These shares have now been delivered to
the Company and cancelled. This had already been factored into the daily NAV
calculation so no change to the published NAV arises from this clawback and
cancellation. The cancellation will be filed with the Registrar of Companies
shortly.

 

Following this cancellation, the Company's issued share capital now comprises
114,572,742 ordinary shares of 25p, each carrying one voting right. The
Company does not hold any ordinary shares in Treasury.

 

Therefore, the total number of voting rights in Aurora UK Alpha plc is now
114,572,742. This figure may be used by shareholders as the denominator for
calculations by which they will determine if they are required to notify their
interest in the Company, or a change to their interest in the Company, under
the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

 

For further information please contact:

Frostrow Capital LLP               020 3709 8733

Company Secretary

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