AIFMD Update

RNS Number : 3474N

Golden Prospect Precious Metals Ltd

25 July 2014

 



GOLDEN PROSPECT PRECIOUS METALS LIMITED (the "Company")

NOTICE OF ENTRY INTO ARRANGEMENTS WITH SERVICE PROVIDERS TO ENSURE COMPLIANCE WITH THE ALTERNATIVE INVESTMENT FUND MANGERS DIRECTIVE (2011/61/EU) ("AIFMD")

The Company announces that with effect from 22 July 2014 the Company has entered into arrangements necessary to ensure compliance with AIFMD.

Following a review of the Company's arrangements, the Board approved the appointment of CQS Asset Management Limited ("CQS") as the Company's alternative investment fund manager ("AIFM") on the terms of and subject to the conditions of a new investment management agreement between the Company and CQS and CQS Cayman Limited Partnership.   The Management fee and notice period are unchanged.

The Board also authorised the appointment of Legis Depositary Services Limitedto act as the Company's depositary to perform its duties as set out in Article 21(7), Article 21(8)(b) and Article 21(9) of in accordance with AIFMD on the terms and subject to the conditions of the depositary agreement between the Company, CQS and Legis Depositary Services Limited. The fee payable to Legis Depositary Services Limitedby the Company is as follows: 0.02% of the Net Asset Value of the Company per annum up to £175 million; 0.015% of the Net Asset Value up to £350 million; 0.01% of the Net Asset Value of the Company per annum thereafter, subject to a minimum fee of £1,000 per month.

For further information please contact:

Craig Cleland - New City Investment Managers - 020 7201 5368

Patrick Farncombe - Legis Fund Services Limited - 01481 732152

 

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