Aurora Investment Trust has provided and update regarding change of manager, tender offer and appointment of Corporate Broker. The Company confirms that it has now agreed the provisions of the new investment management agreement appointing Phoenix Asset Management Partners Limited as the Company’s investment manager in accordance with the terms previously announced. The appointment is expected to become effective by the end of January 2016. Regarding the previously announced tender, the Board say that it notes that the Company’s share price is now at a small premium to NAV and so it does not currently intend to propose a tender offer as previously announced (under the proposed terms the tender price would be significantly below the current market price of the shares). The Board is also discussing with its advisers the options available to it to increase the size of the Company including the issue of new ordinary shares and the sale of ordinary shares currently held in treasury. Further announcements will be made in due course. The company also says that Liberum has been appointed as corporate broker with immediate effect.
Aurora – new management agreement agreed, no tender as shares are trading at a premium : ARR