Volta Finance Limited - Change to Payment of Directors Fees
05 April 2019 - 8:52PM
Volta Finance Limited - Change to Payment of Directors Fees
Volta Finance Limited
(VTA/VTAS)
Changes to Payment of Directors
Fees
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES
***** Guernsey, 5 April 2019
The Directors of Volta Finance Limited (the
“Company” or “Volta”) each receive 30 per cent of his or her
Director's fee for any year in the form of newly issued shares at a
per share price equal to the most recently available NAV.
Whilst the Company’s shares continue to trade at
a discount to the most recently available NAV, the part-payment of
Directors’ fees in shares will henceforth be satisfied through the
purchase of shares in the secondary market rather than the issue of
new shares. This change will take effect in relation to
payments from 30 April 2019. Should the shares trade at a
premium to NAV in the future, the Directors may seek to amend the
policy.
The Directors will continue to be required to
retain these shares for a period of no less than one year.. There
has been no change to the total quantum of annual Directors fees
for any Director.
For further information, please
contact:Company Secretary and Portfolio
AdministratorBNP Paribas Securities Services S.C.A,
Guernsey Branchguernsey.bp2s.volta.cosec@bnpparibas.com +44 (0)
1481 750 853
Corporate BrokerCenkos
Securities plcSapna ShahAndrew Worne+44 (0) 20 7397 8900
For the Investment ManagerAXA
Investment Managers ParisSerge Demayserge.demay@axa-im.com+33 (0) 1
44 45 84 47
***** ABOUT VOLTA FINANCE
LIMITED
Volta Finance Limited is incorporated in
Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and
listed on Euronext Amsterdam and the London Stock Exchange's Main
Market for listed securities. Volta’s home member state for the
purposes of the EU Transparency Directive is the Netherlands. As
such, Volta is subject to regulation and supervision by the AFM,
being the regulator for financial markets in the Netherlands.
Volta’s investment objectives are to preserve
capital across the credit cycle and to provide a stable stream of
income to its shareholders through dividends. Volta seeks to attain
its investment objectives predominantly through diversified
investments in structured finance assets. The assets that the
Company may invest in either directly or indirectly include, but
are not limited to: corporate credits; sovereign and
quasi-sovereign debt; residential mortgage loans; and, automobile
loans. The Company’s approach to investment is through vehicles and
arrangements that essentially provide leveraged exposure to
portfolios of such underlying assets. The Company has appointed AXA
Investment Managers Paris an investment management company with a
division specialised in structured credit, for the investment
management of all its assets.
*****
ABOUT AXA INVESTMENT
MANAGERSAXA Investment Managers (AXA IM) is a multi-expert
asset management company within the AXA Group, a global leader in
financial protection and wealth management. AXA IM is one of the
largest European-based asset managers with €759 billion in assets
under management as of the end of June 2018 – is there a more up to
date figure. AXA IM employs approximately 2,420 people around the
world.
- 19.04.01 Dirs Rem Shares (Final)
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