Crystal Amber reinstates management fee post-2023 and alters investment agreement

Original completion estimate of 2023

James Baxter-Derrington
clock • 2 min read

Crystal Amber has reinstated its management fee for 2024 and beyond, as the activist investment trust expects to require management of the portfolio longer than it had previously expected.

The previous investment management agreement (IMA) allowed for a management fee until 31 December 2023, after which point it was expected that the trust would no longer require substantial management. However, the managers have continued to take "opportunistic investments" in existing holdings, and as such, the board believes it "remains in the best interests of the fund to retain the services of the investment manager until the fund's portfolio is realised". Crystal Amber pledges 'substantial return of capital' following Hurricane Energy sale The decision to return capital to inve...

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