Change in Investment Manager

RNS Number : 3885D

Golden Prospect Precious Metals Ltd

15 September 2008

 



15 September 2008

Golden Prospect Precious Metals Limited ('GPPM')

Further to the announcement on 28 July 2008 that the Board of GPPM was considering the appointment of CQS Cayman Limited Partnership, acting through it's General Partner CQS Cayman General Partner ('CQS') and New City Investment Managers Limited ('NCIM') as new investment managers to GPPM, the Board of Directors of GPPM would like to confirm the novation of the Investment Management Agreement to CQS and NCIM. 

The novation of the Investment Management Agreement will be effective from 15 September 2008, under the existing terms and fee structure, and the Board would like to confirm that no costs have been incurred by GPPM in completing the appointment of CQS and NCIM.

CQS will delegate the Investment Management function to NCIM, which is a UK company, authorised by the Financial Services Authority (registration number 408091).  NCIM manages or advises three investment companies specialising in the resources sector.  Additional information on NCIM can be obtained from their website www.ncim.co.uk. NCIM joined CQS in October 2007.  The CQS Group is an alternative asset manager with assets of $9.7bn under management and advice as at 1  September 2008.  

The Board of GPPM would like to confirm that the original strategy outlined in the Offering Memorandum remains unchanged and we would like to thank investors for their continued support.

All Enquiries:

Gillian Newton/Andrew Maiden

Northern Trust International Fund Administration Services (Guernsey) Limited

Company Secretary

Tel: [phone]

Hugh Field 

Collins Stewart Europe Limited

Nomad 

[phone] 

 

END

 

 

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