29th Nov 2021 10:38
(Alliance News) - Chrysalis Investments Ltd on Monday said it as reached an agreement with its investment manager, Jupiter Unit Trust Managers Ltd, regarding the settlement of performance fees for the most recently ended financial year.
Chrysalis, which invests in technology and finance startups, said it will pay 54% of the fee via the issuance of shares while the remaining 46% will be paid in cash.
The issue price of the shares to be issued is expected to be 267 pence per share which is a 9.4% premium to Friday's closing share price of 244.00p.
Chrysalis shares were up 2.1% to 246.00p each on Monday morning in London.
The shares will be issued when its results for the 12 months to September 30 are released, which are due sometime in January.
The company did not mention the value of the transactions.
"The board is pleased to have accepted this proposal and material commitment by Jupiter on behalf of the fund managers and other staff members, which further increases their alignment with shareholders in pursuing long-term success for Chrysalis," said Chrysalis Chair Andrew Haining.
By Greg Roxburgh; [email protected]
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