15 January 2025
Aurora UK Alpha plc
(the "Company")
LEI:
2138007OUWIZFMAGO575
Clawback
and cancellation of shares
The Company announces that in
accordance with the Investment Management Agreement in place
between the Company and Phoenix Asset Management Partners Limited
("Phoenix" or the "Investment
Manager"), Phoenix has transferred 89,096 shares
to the Company and these have been cancelled.
Phoenix does not earn an ongoing
annual management fee, but instead is paid an annual performance
fee, equal to one third of the outperformance of the Company's NAV
against its benchmark, FTSE All-Share Index (total return).
The performance fee is paid by way
of the issuance of ordinary shares, which are subject to a fixed
three-year clawback period. If the outperformance versus the index
reverses on the third-year anniversary, some or all the issued
shares will be returned by the Investment Manager, and if
outperformance fully reverses, the Investment Manager will receive
nothing.
The clawback period in relation to
the performance fee for the year ended 31 December 2021 ended on 31
December 2024 and this resulted in an entitlement to claw back
89,096 shares from Phoenix. These shares have now been delivered to
the Company and cancelled. This had already been factored into the
daily NAV calculation so no change to the published NAV arises from
this clawback and cancellation. The cancellation
will be filed with the Registrar of Companies
shortly.
Following this
cancellation, the Company's issued share capital now comprises
114,572,742 ordinary shares of 25p, each carrying one voting right.
The Company does not hold any ordinary shares in
Treasury.
Therefore, the total
number of voting rights in Aurora UK Alpha plc is now 114,572,742.
This figure may be used by shareholders as the denominator for
calculations by which they will determine if they are required to
notify their interest in the Company, or a change to their interest
in the Company, under the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules.
For further information please
contact:
Frostrow Capital
LLP
020 3709 8733
Company Secretary
