British Smaller Companies VCT 2 | Charges

2.14

2.26

31/12/2023

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YFM Private Equity Limited provides fund management services to the company. Agreement is terminated by not less than 12 months' notice given by either party at any time. YFM Private Equity Limited receives management fee, payable quarterly in advance, calculated at half-yearly intervals as at 30-Jun and 31-Dec. The fee is to be allocated between capital and revenue. Management fee equals to 2.5% of NAV up to GBP 16m, 1.25% of NAV in excess of GBP 16m and up to GBP 26.667m, and 2% of NAV in excess of GBP 26.667m. A Performance fee of 20% of the amount by which the cumulative dividends per Ord paid as at the last business day in Dec in any year, plus the average of the middle market price per Ord on the 5 dealing days prior to that day, exceeds GBX 135.5 per Ord, multiplied by the number of Ord issued and the Ord under option.

Yes

20

A Performance fee of 20% of the amount by which the cumulative dividends per Ord paid as at the last business day in Dec in any year, plus the average of the middle market price per Ord on the 5 dealing days prior to that day, exceeds GBX 135.5 per Ord, multiplied by the number of Ord issued and the Ord under option (if any).