Utilico Investments Limited Appointment of an AIFM and Depositary (9918J)
13 Abril 2015 - 3:26AM
UK Regulatory
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RNS Number : 9918J
Utilico Investments Limited
13 April 2015
UTILICO INVESTMENTS LIMITED ("UIL" or the "Company")
Appointment of an AIFM and Depositary
UIL announces that it has appointed ICM Investment Management
Limited ("ICMIM"), as its Alternative Investment Fund Manager
("AIFM") for the purposes of the Alternative Investment Fund
Managers Directive ("AIFMD") with effect from 13 April 2015 (the
"Effective Date").
The existing Investment Management Agreement ("IMA") with ICM
Limited ("ICM") will be terminated with effect from the Effective
Date and replaced with a new agreement (the "AIFM Agreement") under
which ICMIM, an English incorporated company which is regulated by
the Financial Conduct Authority (the "FCA"), is appointed to act as
the Company's AIFM with sole responsibility for risk management,
and both ICMIM and ICM are appointed with joint responsibility for
portfolio management. The AIFM Agreement is based on the IMA with
changes only to the extent necessary to ensure that the
relationship between the Company, ICMIM and ICM is compliant with
the requirements of AIFMD and also such other requirements
applicable to ICMIM by virtue of its regulation by the FCA. The
aggregate fees payable by the Company under the AIFM Agreement are
the same as those currently payable under the IMA, with such fees
to be apportioned between the joint portfolio managers in
accordance with a new management services agreement to be entered
into between the joint portfolio managers with effect from the
Effective Date. There is no change in the individuals responsible
for managing the Company as a consequence of the new
arrangements.
The Company has also appointed JPMorgan Europe Limited as the
Company's Depositary for the purposes of Article 36 of the AIFMD
and JPMorgan Chase Bank, NA - Jersey Branch has been appointed as
the Company's Custodian, in place of JPMorgan Chase Bank, NA -
London, both with effect from the Effective Date.
13 April 2015
Enquiries:
Charles Jillings
ICM Investment Management Limited
+44 1372 271486
This information is provided by RNS
The company news service from the London Stock Exchange
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