The objective is to provide capital growth through investment in companies listed on the Official List and traded on the Alternative Investment Market with a market capitalisation at the time of investment of up to GBP 50m. The Company will also invest in unquoted investments where it is believed that there is a likelihood of the shares becoming listed or traded on the Alternative Investment Market or the investee company being sold. Its investment objective is to increase net asset value per share at a higher rate than other quoted smaller company trusts and the MSCI Small Cap UK Index.
Management fee of 0.5% p.a. of the gross value. Contract terminable on notice period of 12 months.
The Board may, if authorised by an ordinary resolution, offer members the right to elect to receive shares, credited as fully paid instead of cash in respect of the whole (or some part, to be determined by Board) of any dividend specified by the Ordinary resolution. The directors may, from time to time, declare and pay an interim dividend. All dividends unclaimed after a period of twelve years from the date of their declaration shall be forfeited and will revert to the Company.