EANS-Adhoc: shaPE Capital AG Improved investment management and advisory
agreement terms agreed with investment manager - further reduction of management
fee
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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Contracts/management fee
28.09.2012
shaPE and its investment manager have agreed on further improved terms in the
investment management and advisory agreement. In particular the management fee
of currently 1% p.a. payable on the value of the investment portfolio (excluding
cash) will be reduced stepwise to 0.9% for the remaining of 2012, then to 0.8%
in 2013 and subsequently to 0.7% for the years 2014 onwards. Further, the
investment manager's entitlement to receive management and performance fee has
been limited to 12 months following a termination notice per quarter end.
Finally, Beat Buehlmann, chairman of shaPE, has terminated his advisory mandate
with Bank Julius Baer & Co. Ltd. effective 30 September 2012 and will be
retained directly by shaPE as of 1 October 2012. This change is accomplished on
a cost neutral basis for shaPE. These latest fine-tuned adjustments are aligned
with the finite time horizon under the realization strategy and underline the
commitment of shaPE and its investment manager for a cost-effective execution of
the realization strategy.
end of ad-hoc-announcement
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shaPE is a SIX Swiss Exchange-listed investment company with exposure to a
global private equity portfolio built over the past years. In 2009 shaPE decided
to initiate a realization strategy with the ultimate goal to return the
intrinsic value of the current portfolio to its shareholders. Under this
realization strategy shaPE does not make any new commitments to private equity
funds, but focuses on harvesting the value of the current portfolio over the
coming years. shaPE is listed on the SIX Swiss Exchange under the ticker symbol
"SHPN".
Further inquiry note:
Dr. Simon Lamprecht
shaPE Capital AG
Wolleraustrasse 41a
8807 Freienbach
Phone: +41 58 596 12 96
Fax: +41 58 596 12 97
E-mail: info@shape-capital.com
Internet: www.shape-capital.com
end of announcement euro adhoc
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issuer: shaPE Capital AG
Wolleraustrasse 41a
CH-8807 Freienbach
phone: +41/58/596 12 96
FAX: +41/58/596 12 97
mail: info@shape-capital.com
WWW: http://www.shape-capital.com
sector: Financial & Business Services
ISIN: CH0012885841
indexes:
stockmarkets: official dealing: SIX Swiss Exchange
language: English