Kubera Cross-Border Fund Limited Change of Administrator and Amendment to IMA (6189G)
June 10 2013 - 2:05AM
UK Regulatory
TIDMKUBC
RNS Number : 6189G
Kubera Cross-Border Fund Limited
10 June 2013
10 June 2013
Kubera Cross-Border Fund Limited
Change of Administrator and Amendment to Investment Management
Agreement
Kubera Cross-Border Fund Limited (the "Fund") announces that it
has appointed IOMA Fund and Investment Management Limited ("IOMA")
as administrator, registrar and company secretary to the Fund.
IOMA will be paid an annual fee of US$ 95,000, charged quarterly
in arrears (the "Administration Fees"). The Administration Fees
will be reviewed annually and will be adjusted by mutual agreement
following the disposal of any substantial asset held by the
Fund.
IOMA will work closely with Cim Fund Services Ltd in Mauritius,
who will continue as administrator and secretary of Kubera
Cross-Border Fund (Mauritius) Limited, a subsidiary of the Fund,
and will continue to assist in providing administrative services to
the Fund and its other subsidiaries.
The Fund has also amended the terms of the Investment Management
Agreement entered into with the Fund's Investment Manager, Kubera
Partners LLC (the "Manager"), reducing the investment management
fees payable to the Manager by the amount of the Administration
Fees payable to IOMA.
The amendment to the terms of the Investment Management
Agreement constitutes a related party transaction under AIM Rule
13. The Independent Directors, having consulted with the Fund's
Nominated Adviser, believe the proposed amendments to the
Investment Management Agreement described above are fair and
reasonable insofar as the Fund's shareholders are concerned.
About Kubera Cross-Border Fund Limited
Kubera Cross-Border Fund Limited is a closed-end investment
company incorporated in the Cayman Islands and traded on the AIM
market of the London Stock Exchange. The Fund makes private equity
investments in cross-border companies, primarily in businesses that
operate in the US-India corridor. The Fund's investment manager,
Kubera Partners, brings a strong track record of investing in or
managing such businesses. Several of the Fund's portfolio companies
also benefit from business activities in the growing Indian
domestic market. For further information on the Fund, please visit
www.kuberacrossborderfund.com.
For more information contact:
Kubera Partners, LLC (Investment Manager of Kubera Cross-Border
Fund Limited)
Ramanan Raghavendran, Managing Partner
Email: info@kuberapartners.com
Numis Securities Limited (Broker)
David Benda, Director
Tel.: +44 (0) 20 7260 1275
Email: d.benda@numiscorp.com
Grant Thornton Corporate Finance (Nominated Adviser)
Philip Secrett, Partner/ David Hignell, Manager
Tel.: +44 (0) 20 7383 5100
Email: philip.j.secrett@uk.gt.com
IOMA Fund and Investment Management Limited (Administrator,
Registrar & Secretary)
Philip Scales, Director
Tel.: +44 (0) 1624 681250
Email: Philips@iomagroup.co.im
This information is provided by RNS
The company news service from the London Stock Exchange
END
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