Chrysalis Investments Limited Update on Performance Fee Arrangements (8009T)
November 29 2021 - 2:00AM
UK Regulatory
TIDMCHRY
RNS Number : 8009T
Chrysalis Investments Limited
29 November 2021
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is not for publication, release or distribution in the United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 professional investors in Belgium, Denmark, the
Republic of Ireland, Luxembourg, the Netherlands, Norway and
Sweden), Canada, Australia, Japan or the Republic of South
Africa.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (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 chrysalis@montfort.london
Colkin / Lesley Kezhu Wang
Jupiter Asset Management:
Magnus Spence +44 (0) 20 3817 1325
Liberum:
Chris Clarke / Darren Vickers
/ Owen Matthews +44 (0) 20 3100 2000
Numis:
Nathan Brown / Matt Goss +44 (0) 20 7260 1000
Maitland Administration (Guernsey)
Limited:
Elaine Smeja / Aimee Gontier +44 (0) 1481 749364
LEI: 213800F9SQ753JQHSW24
A copy of this announcement will be available on the Company's
website at:
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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END
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