Appointment of external AIFM and new bank facility

RNS Number : 2115G

Martin Currie Global Portfolio Tst

23 November 2020

 

Martin Currie Global Portfolio Trust plc

Legal Entity Identifier: 549300RKB85NFVSTBM94

Appointment of external AIFM and New Bank Facility

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014. This announcement has been authorised for release by the Company's Board of Directors.

The Board of Martin Currie Global Portfolio Trust plc (the "Company") is pleased to announce that, as indicated in the last Annual Report, the Board has decided that it is now in the best interests of the Company that it has a modest level of structural gearing consistent with the gearing policy. It has therefore appointed Martin Currie Fund Management Limited as the Company's new AIFM in terms of an alternative investment fund management agreement in substitution for, and on materially the same commercial terms as, its existing investment management agreement with Martin Currie Investment Management Limited. As part of this process, State Street Trustees Limited has been appointed as the Company's depositary. 

The Company is also pleased to announce that it has entered into an unsecured three year £30 million sterling term loan facility agreement with The Royal Bank of Scotland International Limited which it is intended will be fully drawn. A further announcement will be made when this has taken place. When drawn, this loan will represent about 10% of the current Net Asset Value of the Company.

 

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