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TIDMSTS
RNS Number : 7815B
Securities Trust of Scotland PLC
20 April 2012
SECURITIES TRUST OF SCOTLAND PLC
Change in Management Fee Arrangements
Securities Trust of Scotland Plc is managed under a management contract with Martin Currie Investment Management Ltd ("MCIM").
Under this management contract MCIM received an annual management fee of 0.3% of net assets. MCIM was also entitled to receive a performance fee calculated in respect of each financial year to 31 March (the measurement period) and payable in arrears.
The Board of Securities Trust of Scotland Plc has negotiated an amendment to the current management contract with MCIM. Under the new contract the management fee will be raised to 0.6% of net assets per annum and the performance fee abolished.
The change will be effective from the financial year beginning 1 April 2012 and has been authorised by the UKLA.
Martin Currie Investment Management Limited
Company Secretary
20 April 2012
This information is provided by RNS
The company news service from the London Stock Exchange
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