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Lindsell Train IT agrees new mgmt fee structure

31 March 2016 11:56

Lindsell Train Investment Trust has announced that it has agreed with Lindsell Train Limited (LTL) an amendment to the calculation of the Investment Management Fee. Under the current Investment Management Agreement, Lindsell Train Limited as the Manager is entitled to receive an Investment Management Fee by reference to the Market Capitalisation of the Company.

Both Parties have agreed that the Investment Management Fee should be amended to ensure that LTL no longer earns a fee on the proportion of the Market Capitalisation that is attributable to any share price premium to the Company's Net Asset Value (NAV).

With effect from 1 April 2016, the Investment Management Fee will be calculated by reference to the lower of the Market Capitalisation or the NAV of the Company.

At 11:55am: (LON:LTI) Lindsell Train Investment Trust Plc the share price was +2.5p at 570p

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