20th Aug 2021 19:28
Secured Income Fund PLC - UK-based investment company - Amends investment management agreement with portfolio manager KKV Investment Management Ltd, and alternative investment fund manager Kvika Securites Ltd, with the intent to terminate the deal with effect at the end of 2021.
Under the amended agreement, management fees of GBP20,500 per month will be payable to KKV by Secured Income, as well as GBP20,000, conditional on a senior employee providing continued services to the company until December 31.
"The board believes that the revised Agreement provides the company with certainty over the level of future management fees payable to KKVIM with the added flexibility of facilitating the company becoming self-managed should the board deem that appropriate, whilst providing for the ongoing management of the portfolio to 31 December 2021. Overall, it allows for an orderly transition of the management of the portfolio to the company," the company stated.
Current stock price: 30.00 pence, down 10%
Year-to-date change: down 55%
By Dayo Laniyan; [email protected]
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