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The Company is managed by Impax Asset Management Limited. The Management Agreement was amended, conditional on Admission of C Shares taking place. Under the amended management agreement the management fee will be calculated at the current monthly rate of 1/12 of 1% for net assets not exceeding £200m but at the reduced monthly rate of 1/12 of 0.9% for net assets in excess of £200m, 1/12 of 0.825% for net assets between £300m and £400m and 1/12 of 0.8% on net assets in excess of £400m. The Manager is also entitled to reimbursement of certain expenses incurred by it in connection with its duties. The Management Agreement is subject to 12 months' notice on either side. The Administrator (Cavendish Administration Limited) receives a monthly fee of £1,666.67 plus a monthly fee equal to one twelfth of 0.075% of NAV of the Company. The administration fee is capped at £80,000 in each financial year. Custodian (Northern Trust Company Limited) to receive an annual fee of £3,750 and a holding charge between 0.01% and 0.07% of value of assets of Company payable monthly in arrear and fees of between £10 and £65 per transaction. The Company will charge 75% of the management fee to capital.