REG-New Century AIM VCT Plc Strategy/Company/Operations Update

New Century AIM VCTAnnouncement

15/09/2022 15:00

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Strategy/Company/Operations Update

 

New Century AIM VCT plc

Legal Entity Identifier: 213800DEURQTGUXXPY18

As announced on 5 September 2022, at the general meeting of the Company held
on that day 100 per cent. of the votes cast were voted in favour of the
resolution for the Company to adopt a new managed wind-down investment
objective and policy, as set out in full in part 2 of the circular to
shareholders of the Company dated 12 August 2022.

Accordingly, the Company has served notice of termination on Oberon
Investments Limited (the "Investment Manager") in respect of the investment
management agreement entered into between the Company and the Investment
Manager (as amended from time to time) (the "Investment Management
Agreement").

In accordance with the terms of the Investment Management Agreement, the
termination of the Investment Management Agreement will take effect on the
date which is twelve months from the date of the termination notice.
Notwithstanding the serving of the termination notice by the Company, under
the terms of the Investment Management Agreement, the Investment Manager will
continue to provide investment management services in line with the terms and
provisions of the Investment Management Agreement up to the effective date of
the termination of the Investment Management Agreement.

The Company has also today submitted to the Financial Conduct Authority an
application to become a small registered UK alternative investment fund
manager. Upon the Company becoming a small registered UK alternative
investment fund manager, and upon the Investment Manager ceasing to hold
office, the Board will assume overall control of the Company's investment
objective and policy and will have overall responsibility for the Company's
activities.

For further information, please contact:

Tricor Secretaries Ltd, Company Secretary Tel: 020 3216 2000

Email: CompanySecretarial@uk.tricorglobal.com
(mailto:CompanySecretarial@uk.tricorglobal.com)

15th September 2022



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NEW CENTURY AIM VCT PLC


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