Blackfinch Spring VCT plc (the “Company”) will focus its investment in unquoted companies with some or all of the following characteristics: â¢ Early-stage and technology-enabled with a focus on research and development. â¢ The capability to grow quickly through disrupting their markets. â¢ Strong performance against previous investment round milestones.
The Investment Adviser will charge an Annual Advisory Fee of 2.5% of the NAV annually payable quarterly in arrears. The Investment Adviser will charge a Performance Incentive Fee equal to 20% of the amount by which the Performance Value per Share at the end of an accounting period exceeds the High Water Mark, and multiplied by the number of Shares in issue on the relevant date.
The Company intends but cannot guarantee to pay: (1) a regular annual dividend commencing not earlier than in the financial year beginning 1 January 2024 equivalent to 5% of the Company’s Net Asset Value and (2) special dividends, where appropriate, from the proceeds of successful exits of portfolio companies that are not reinvested. The Company’s ability to pay dividends is subject to the existence of realised profits, legislative requirements and the available cash reserves of the Company. No forecast or projection is implied or inferred.