REG - Chrysalis Invs Ltd - Update on Performance Fee Arrangements

Chrysalis InvestmentsAnnouncement

29/11/2021 07:05

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RNS Number : 8009T  Chrysalis Investments Limited  29 November 2021

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(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019.

29 November 2021

Chrysalis Investments Limited (the "Company")

Update on Performance Fee Arrangements

The Company announces that it has, today, entered into an agreement with its
investment manager, Jupiter Unit Trust Managers Limited ("Jupiter") to settle
54 per cent. of the performance fee amount that will be payable to the
investment manager in respect of the period to 30 September 2021 in ordinary
shares issued by the Company. The remaining 46 per cent. of the performance
fee amount will be settled in cash.

The issue price of those shares is expected to be 267p per share (being the
closing share price on 30 September 2021) which is a 9.4 per cent. premium to
the share price as at close of business on 26 November 2021 and a 6 per cent.
premium to the unaudited net asset value per share as at 30 September 2021. To
the extent that the audited 30 September 2021 net asset value per share is
greater than 267 pence per share, the issue price will be increased to an
amount equal to the audited 30 September 2021 net asset value per share.

The shares are expected to be issued on the date of publication of the
Company's audited financial statements for the year ended 30 September 2021,
which is anticipated to be in January 2022. They will be issued on a
non-preemptive basis utilising the Company's existing authority to issue
shares.

The shares issued to Jupiter are intended to be used by Jupiter as part of the
deferred remuneration arrangements of its staff, including the Company's
portfolio managers, and will be subject to Jupiter's usual vesting conditions
which incrementally release shares to the qualifying staff over a three year
period.

The Company's chair, Andrew Haining, commented:

"The Board is pleased to have accepted this proposal and material commitment
by Jupiter on behalf of the fund managers and other staff members, which
further increases their alignment with shareholders in pursuing long-term
success for Chrysalis."

-ENDS-

 

 

 

For further information, please contact:

 Media

 Montfort Communications                                   +44 (0) 7542 846 844

 Charlotte McMullen / Georgia Colkin / Lesley Kezhu Wang   chrysalis@montfort.london

 Jupiter Asset Management:                                 +44 (0) 20 3817 1325

 Magnus Spence

 Liberum:                                                  +44 (0) 20 3100 2000

 Chris Clarke / Darren Vickers / Owen Matthews

 Numis:                                                    +44 (0) 20 7260 1000

 Nathan Brown / Matt Goss

 Maitland Administration (Guernsey) Limited:               +44 (0) 1481 749364

 Elaine Smeja / Aimee Gontier

LEI: 213800F9SQ753JQHSW24

A copy of this announcement will be available on the Company's website at:

https://www.chrysalisinvestments.co.uk/
(https://www.chrysalisinvestments.co.uk/)

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.

 

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