Menhaden PLC Leverage Limits

 
TIDMMHN 
 
Leverage Limits 
 
Menhaden PLC's current leverage+ limits are 200% on a gross method and 120% on 
a commitment method (calculated after offset of hedging or netting 
arrangements). 
 
The Directors have decided to raise the commitment limit from 120% to 200% in 
order to increase flexibility and allow the Portfolio Managers to take 
appropriately sized positions in strategies and instruments designed to protect 
shareholders' funds and hedge against market risk where that strategy or 
instrument does not meet the strict definition of a hedge under the AIFMD 
Rules. 
 
The borrowing limit of a maximum of 20% of net asset value remains in place and 
this change to the leverage limit will only be utilised by investments designed 
to reduce the risk, and protect the capital, of the Company. 
 
The change will become effective on 15 February 2019. 
 
15 January 2019 
 
Frostrow Capital LLP 
Company Secretary 
Tel: [phone] 
 
+             For the purpose of the Alternative Investment Fund Managers 
(AIFM) Directive, leverage is any method which increases the Company's 
exposure, including the borrowing of cash and the issue of derivatives. It is 
expressed as a ratio between the Company's exposure and its net asset value and 
can be calculated on a gross and a commitment method. Under the gross method, 
exposure represents the sum of the Company's positions after the deduction of 
sterling cash balances, without taking into account any hedging and netting 
arrangements. Under the commitment method, exposure is calculated without the 
deduction of sterling cash balances and after certain hedging and netting 
positions, as defined in the AIFM Directive, are offset against each other. 
 
 
 
END 
 

(END) Dow Jones Newswires

January 15, 2019 09:06 ET (14:06 GMT)