Triple Point Venture VCT Seeks Shareholder Approval for New Performance Fee Structure

An announcement from Triple Point VCT 2011 PLC ( (GB:TPV) ) is now available.

Triple Point Venture VCT plc has published a shareholder circular outlining proposed amendments to the performance fee structure payable to its investment manager, Triple Point Investment Management LLP. The changes would shift the incentive mechanism from a total return-based calculation to one tied to cash realisations from portfolio company exits that exceed investment cost plus a 3% annual compound return.

Under the new structure, 20% of the excess proceeds above this threshold from each qualifying sale would be apportioned to Venture Shares and paid to the manager, subject to conditions including a five-year minimum holding period and protections ensuring investors at least recover their initial net subscription. As the revised investment management agreement is treated as a related party transaction under UK Listing Rules, it must be approved by shareholders at a general meeting scheduled for 31 March 2026, potentially realigning manager incentives more closely with realised outcomes for investors.

More about Triple Point VCT 2011 PLC

Triple Point Venture VCT plc is a UK-listed venture capital trust established in 2010 to fund small and medium-sized enterprises. Managed by Triple Point Investment Management LLP, it focuses on investing in portfolio companies with a mandate to generate returns for holders of its Venture Shares through capital growth and distributions.

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