Issue of Equity to Investment Manager
Source: RNS
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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