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Greencoat UK Wind renews investment management agreement with new fee structure

Greencoat UK Wind renews investment management agreement with new fee structure – Greencoat UK Wind (UKW) has renewed its investment management agreement with Greencoat Capital, who has managed UKW since IPO in 2013. The principal changes to the agreement are as follows:

  • An additional tier added to the cash fee structure, which will see a reduction in the fee charged in respect of NAV over £3,000 million to an amount equal to 0.7 per cent., paid in quarterly instalments and applied retrospectively;
  • A refreshed initial term of four years from 1 April 2022, subject to:
  • A reduction to one year’s notice if the shares trade below NAV for six months or more, on average, during the initial term; and
  • A revision to the change of control clause to limit the remaining term for these purposes to a maximum of 2 years.

All other material terms remain in line with the previous agreement.

UKW : Greencoat UK Wind renews investment management agreement with new fee structure

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