Change in Management Fee Arrangements

RNS Number : 2569P

Troy Income & Growth Trust Plc

22 October 2012

 



Troy Income & Growth Trust plc

To:      RNS

From:  Troy Income & Growth Trust plc

Date:   22 October 2012

Change in Management Fee Arrangements

Troy Income & Growth Trust plc is managed under a management agreement with Troy Asset Management Ltd ("Troy").

Under this management agreement Troy received a management fee at an annual rate of 0.75% of the Company's net assets, calculated monthly and paid quarterly.

The Board of Troy Income & Growth Trust plc has negotiated an amendment to the current management agreement with Troy.  Under the amended agreement the management fee will be at the annual rate of 0.75% of the Company's net assets up to £175 million and at the annual rate of 0.65% on the net assets at and above £175 million at the relevant valuation date. The management fee will continue to be calculated monthly and paid quarterly.

The change will be effective from the financial year beginning 1 October 2012.

Steven Cowie

Company Secretary

Tel: [phone]

 

END

 

 

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