REG - Chrysalis Investment - Board clarification in response to stmt by CIP

Chrysalis InvestmentsAnnouncement

20/02/2026 15:00

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RNS Number : 8943T  Chrysalis Investments Limited  20 February 2026

The information contained in this announcement is restricted and is not for
publication, release or distribution in the United States of America, any
member state of the European Economic Area (other than to professional
investors in Belgium, Denmark, the Republic of Ireland, Luxembourg, the
Netherlands, Norway and Sweden), Canada, Australia, Japan or the Republic of
South Africa.

 

20 February 2026

 

Board clarification made in response to statement by Chrysalis Investment
Partners LLP

 

The Company notes this morning's statement from Chrysalis Investment Partners
LLP (the "Investment Adviser") which included a reference to Starling Bank.

The Company wishes to clarify that its governance and representation rights at
Starling are governed by the Starling shareholder agreement. The Company will
retain its existing contractual board observer rights and continue to exercise
its rights as a shareholder following a termination of the Investment
Adviser's appointment. The Company successfully managed its investment in
Starling without a board seat between 2018 and December 2025.

The Starling board comprises 11 directors, of whom Richard Watts (a principal
of the Investment Adviser)  was nominated to join in December 2025.

Having taken legal advice, the Board does not consider that the proposed
changes would result in a loss of oversight over the Company's investment in
Starling. Further, it does not consider that an impairment of value would be
caused solely by a change in the composition of the Starling board as
suggested by the Investment Adviser.

Accordingly, the Board of Chrysalis do not accept the statement made in
relation to Starling by the Investment Adviser. The Board does not intend to
comment further on the other statements made by the Investment Adviser, and
refers shareholders to the announcement published by the Company this morning
for the rationale for the Board's confidence in delivering the proposed new
strategy of the Company.

-ENDS-

 

 For further information, please contact:

 Media

 Montfort Communications:                          +44 (0) 7826 547 304

 Charlotte McMullen / Imogen Saunders              chrysalis@montfort.london

 Investment Adviser                                +44 (0) 20 7871 5343

 Chrysalis Investment Partners LLP:

 James Simpson

 AIFM                                              +44 (0) 20 7397 5450

 G10 Capital Limited:

 Maria Baldwin

 Deutsche Numis:                                   +44 (0) 20 7260 1000

 Nathan Brown / Matt Goss

 Panmure Liberum:                                  +44 (0) 20 3100 2222

 Chris Clarke / Darren Vickers

 Barclays Bank PLC:                                +44 (0) 20 7623 2323

 Dion Di Miceli / Stuart Muress / James Atkinson

 Rothschild & Co:                                  +44 (0) 20 7280 5000
 Alice Squires / Tim Brenton / Ahmed Jibril

 IQEQ Fund Services (Guernsey) Limited:            +44 (0) 1481 231 852

 Aimee Gontier / Elaine Smeja

 

This announcement is for information purposes only and is not an offer to
invest. All investments are subject to risk. Past performance is no guarantee
of future returns. Prospective investors are advised to seek expert legal,
financial, tax and other professional advice before making any investment
decision. The value of investments may fluctuate. Results achieved in the past
are no guarantee of future results. Neither the content of the Company's
website, nor the content on any website accessible from hyperlinks on its
website for any other website, is incorporated into, or forms part of, this
announcement nor, unless previously published by means of a recognised
information service, should any such content be relied upon in reaching a
decision as to whether or not to acquire, continue to hold, or dispose of,
securities in the Company.

The Company is an alternative investment fund ("AIF") for the purposes of the
AIFM Directive and as such is required to have an investment manager which is
duly authorised to undertake the role of an alternative investment fund
manager ("AIFM"). G10 Capital Limited is the AIFM to the Company. Chrysalis
Investment Partners LLP is the investment adviser to G10 Capital Limited.
Chrysalis Investment Partners LLP (FRN: 1009684) is an Appointed
Representative of G10 Capital (FRN: 648953) Limited, which is authorised and
regulated by the Financial Conduct Authority.

 

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