17 Feb 2014 14:00
CHENAVARI CAPITAL SOLUTIONS LIMITED
Non-Mainstream Pooled Investments
The Board of the Company have noted the rules of the UK Financial Conduct Authority ("FCA") on the promotion of non-mainstream pooled investments, effective from 1 January 2014. The Board confirmed that it conducts the Company's affairs, and intends to continue to conduct its affairs, so that the Company's shares will be "excluded securities" under the FCA's new rules. This is on the basis that the Company, which is resident outside the EEA, would qualify for approval as an investment trust by the Commissioners for HM Revenue and Customs under Sections 1158 and 1159 of the Corporation Tax Act 2010 if resident in the United Kingdom. Therefore, the Company's shares do not amount to non-mainstream pooled investments. Accordingly, the promotion of the Company's shares will not be subject to the FCA's restriction on the promotion of non-mainstream pooled investments.
Enquiries:
Hobson Barnes or Kirstie McLaren
Chenavari Investment Managers
Email: Investor-relations@chenavari.com
Telephone: +44 20 7259 3600