Change of Investment Manager (1334N)
August 26 2011 - 9:21AM
UK Regulatory
TIDMVEN2
RNS Number : 1334N
Ventus 2 VCT PLC
26 August 2011
Ventus VCT plc, Ventus 2 VCT plc
London, 26 August 2011
Notice of change of investment manager
The Boards of Directors of Ventus VCT plc and Ventus 2 VCT plc
(the "Companies") and the Investment Manager, Climate Change
Capital Limited ("CCC") have agreed to transfer the investment
management of the Companies to Temporis Capital LLP ("Temporis")
with effect from 12 September 2011.
Temporis has been involved in asset management since its
formation in 2005 and now specialises in facilitating the provision
of capital to the sustainable and clean tech sectors and, in
particular, providing long-term liquidity to renewable energy
projects. Charles Conner, a director of Ventus VCT plc, is a
minority shareholder in Temporis Wind Limited, in which Temporis
Limited (the majority owner of Temporis) also holds a minority
shareholding.
CCC is exploring a new strategy investing in larger scale
operating wind assets in the UK, backed by institutional investors.
The Boards of the Companies and CCC believe that the transfer of
the management and administration mandates is in the best interests
of shareholders as it removes any perceived risk of conflict
between the Companies and CCC's new strategy.
Shaun Mays, CCC's Chief Executive, said "CCC has supported the
raising and the development of the Ventus funds since 2004, working
in partnership with developers to finance and construct over 20
renewable energy projects in the UK, delivering over 65 megawatts
of installed generating capacity. I am glad we have achieved a
successful transition that enables the Companies to pursue the
opportunities which they see opening up for them in the renewable
energy infrastructure field. CCC will continue to explore
opportunities to support the development of the wind industry,
which we see as a rapidly growing sector, vital for the UK's future
economic success and security of energy supply."
David Pinckney and Alan Moore, Chairmen of the Companies, said
"We are pleased to announce the appointment of Temporis as the new
manager of both the Companies. Following wide ranging discussions
with all parties, we believe that Temporis has the right level of
resources, experience and expertise to manage the existing
portfolio and support new developments. We are working to ensure
that the transition is as seamless as possible and will enable the
Companies to develop their future strategies successfully."
For further information please contact The City Partnership (UK)
Limited, 0131 243 7210.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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