26 Mar 2010 08:45
Greenwich Loan Income Fund Limited ("GLIF" or the "Company")
Investment Manager Agreement Variation
26 March 2010
The Board announces today that the Company has agreed to amend certain terms of the Investment Manager Agreement ("IMA") with its Investment Manager, T2 Advisers, LLC ("T2 Advisers") whereby:
• for the third quarter of 2010 and all following quarters the management fee payable to T2 Advisors will be reduced by 25 basis points from 2.00% of gross assets to 1.75% of gross assets.
•T2 Advisers has agreed to the cancellation of GLIF's Share Option Plan and has agreed to surrender the 555,555 options which it currently holds under this plan.
The directors consider, having consulted with its nominated adviser, that the aforementioned amendments to the IMA are fair and reasonable insofar as the Company shareholders are concerned.
Contacts:
Geoffrey Miller
Greenwich Loan Income Fund Limited
+353 1 4433 466
Patrick Conroy
Greenwich Loan Income Fund Limited
+1 203 983 5282
Philip Secrett
Nominated Adviser
Grant Thornton Corporate Finance
+44 207 383 5100
Jos Trusted
Singer Capital Markets Limited
+44 (0) 20 3205 7622
Ed Gascoigne Pees
Financial Dynamics
+44 (0) 207 269 7132