CHRY Chrysalis Investments Limited

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The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area (other than professional investors in Belgium,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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November 29, 2021 02:00 ET (07:00 GMT)

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