15 January 2025
Aurora UK Alpha plc (the "Company")
LEI: 2138007OUWIZFMAGO575
Clawback and cancellation of shares
The Company announces that in accordance with the Investment Management Agreement in place between the Company and Phoenix Asset Management Partners Limited ("Phoenix" or the "Investment Manager"), Phoenix has transferred 89,096 shares to the Company and these have been cancelled.
Phoenix does not earn an ongoing annual management fee, but instead is paid an annual performance fee, equal to one third of the outperformance of the Company's NAV against its benchmark, FTSE All-Share Index (total return).
The performance fee is paid by way of the issuance of ordinary shares, which are subject to a fixed three-year clawback period. If the outperformance versus the index reverses on the third-year anniversary, some or all the issued shares will be returned by the Investment Manager, and if outperformance fully reverses, the Investment Manager will receive nothing.
The clawback period in relation to the performance fee for the year ended 31 December 2021 ended on 31 December 2024 and this resulted in an entitlement to claw back 89,096 shares from Phoenix. These shares have now been delivered to the Company and cancelled. This had already been factored into the daily NAV calculation so no change to the published NAV arises from this clawback and cancellation. The cancellation will be filed with the Registrar of Companies shortly.
Following this cancellation, the Company's issued share capital now comprises 114,572,742 ordinary shares of 25p, each carrying one voting right. The Company does not hold any ordinary shares in Treasury.
Therefore, the total number of voting rights in Aurora UK Alpha plc is now 114,572,742. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information please contact:
Frostrow Capital LLP 020 3709 8733
Company Secretary
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