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Estimated NAV (p)
Share Price (p)
Total Returns on £1000 over
Discrete performance % over
Discrete performance over
The Management Fee is calculated at 1% p.a. of Gross Assets, adjusted to reflect the current value of the properties, and of assets representing an indirect interest in the property, to the extent that these are not reflected in the consolidated gross assets. The Investment Manager is also entitled to an annual performance fee, which is payable once the annualized Total Shareholder Return in any accounting period exceeds 12%. The Performance fee is calculated at 20% of such excess, plus 15% for an annualized TSR in excess of 20% in any accounting period. The Company has also granted an option to the Funds personnel to acquire up to 3,825,000 Ords, the vesting there of being subject to the achievement of performance criteria. There are a total of three tranches of options, and the first tranche will vest on the third anniversary of Admission. The Management Agreement is for an initial eight- year term and may extend for a further eight-year term if the Board determine so prior to the seventh anniversary of the Admission. The Company may also terminate the Agreement if at any time within two years following Admission there is a change of control of the Investment Manager. The Administrator is paid a fee based on time incurred on the Companies behalf, subject to a maximum charge of GBP 6,000 per month. The Agreement is terminable by either party on not less than 120 days' notice.
© 2014 Citywire.co.uk. All Rights Reserved.Citywire Financial Publishers Ltd. is authorised and regulated by the Financial Conduct Authority no: 222178 to provide investment advice and is bound by its rules.
© 2014 Citywire.co.uk. All Rights Reserved.Citywire Financial Publishers Ltd. is authorised and regulated by the Financial ServicesAuthority no: 222178 to provide investment advice and is bound by its rules.