Change of Investment Manager
23 Januar 2009 - 1:04PM
UK Regulatory
TIDMCRWN
RNS Number : 1629M
Crown Place VCT PLC
23 January 2009
Crown Place VCT PLC
Change of Investment Manager
The Board of Crown Place VCT PLC (the "VCT") announces that the business of
Close Ventures Limited, the manager of the VCT and one of the leading managers
of venture capital trusts in the UK, has been acquired by Albion Ventures LLP
("Albion Ventures") from Close Brothers Group ("Close"). Albion Ventures has
been formed by the executive directors of Close Ventures; Close meanwhile will
continue to have an investment in the business.
The VCT's management contract, along with those of the other VCTs managed by
Close Ventures, has been novated from Close Ventures to Albion Ventures under
exactly the same terms as the current agreement. The investment approach of
Albion Ventures and the investment policy of the VCT are also unchanged, with a
continued emphasis on building up a broad portfolio of investee companies with
no bank borrowings and the maintenance of a strong dividend yield.
As a result of this change, the VCT's Company Secretary will change to Albion
Ventures LLP with immediate effect. The Company name will remain unchanged.
For further information, please contact:
Patrick Reeve
Close Ventures
020 7422 7830
Roddi Vaughan Thomas
Peregrine Communications
020 3178 6870
23 January 2009
This information is provided by RNS
The company news service from the London Stock Exchange
END
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