Changes to FCA regulation covering non-mainstream pooled investment vehicles
The Board notes the changes to the Financial Conduct Authority's ("FCA") rules relating to the restrictions on the retail distribution of unregulated collective investment schemes and close substitutes, so-called non-mainstream pooled investments, which came into effect on 1 January 2014 ("the NMPI Rules").
The Board has been advised that the Company would qualify as an investment trust if it was resident in the UK, and that the retail distribution of the Company's shares should therefore be unaffected by the changes to the NMPI Rules. It is the Board's intention that the Company will make all reasonable efforts to conduct its affairs in such a manner so that its shares can be recommended by IFAs to ordinary retail investors in accordance with the NMPI Rules.
Princess Private Equity Holding Limited - Compliance with Listing Rules
For the purposes of the requirements of the UK Listing Authority which apply to closed-ended investment funds, the Company confirms that it will not invest more than 10 per cent in aggregate of the Company's total assets in other listed closed-ended investment funds
In July 2014, the European Alternative Investment Fund Management Directive ("AIFMD") came into effect. At present, the Board considers that the Company falls outside the scope of this Directive, in that the number of its shares in issue is static or declining, and accordingly it does not market new shares inside the European Union. The Company will reconsider this in the event that it seeks to raise capital.