Baronsmead Vt Regulatory News (BVT)

20 Dec 2006 12:36

Baronsmead VCT 2 PLC20 December 2006 To: RNS Date: 20 December 2006 Company: Baronsmead VCT 2 plc Subject: Management Fee Arrangements The Board of Baronsmead VCT 2 plc ("the Company") announces that with effectfrom 1 January 2007, the liquid assets within the Company's portfolio (beingcash, gilts and other assets which are not categorised as venture capitalinvestments for the purposes of the FSA's rules) will be managed by FPPE LLP.This is a new English limited liability partnership, which is authorised andregulated by the FSA and which has the same controlling members as ISIS EP LLP("the Manager"). The Manager will continue to act as the manager of the Companyand as the investment manager of all the Company's illiquid assets (being allAiM-traded and other venture capital investments). The existing managementagreement will terminate with effect from 1 January 2007. The Manager and theCompany will enter into a new management agreement, commencing on 1 January2007, substantially on the same terms as the existing management agreement, savein relation to the investment management of the liquid assets. In addition, theManager, the Company and FPPE LLP will enter into an agreement relating to theinvestment management by FPPE LLP of the liquid assets. The personnel involved in providing management and investment managementservices to the Company will not change as a result of the implementation of thenew arrangements. Amounts equal to the fees payable by the Company to FPPE LLPwill be deducted from the Manager's fees and, accordingly, the implementation ofthe new arrangements will not result in any overall increase of the managementand performance fees payable by the Company. For further information contact: David Thorp, ISIS EP LLP: 0207 506 1609Rhonda Nicoll, F&C Asset Management plc: 0131 718 1074 This information is provided by RNS The company news service from the London Stock Exchange