EDGE_G_4 12-59-34_Layout 1 - The Tax Shelter Report

Edge Performance VCT plc
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The Manager also receives an annual administrative fee of £175,000 (plus VAT) (if applicable), in respect of all of the C,
D, E, F and G Share Funds.
Assuming that the Offer is fully subscribed, it is anticipated that the annual operating expenses of the Company (excluding
performance-related incentive fees, irrecoverable VAT, and trail commission to intermediaries in respect of the C, D, E
and F Share funds) will be no more than 2.5% of the net asset value of the Company. The total annual operating expenses
of the Company (excluding performance-related incentive fees, irrecoverable VAT and trail commission to intermediaries)
will be capped by the Manager at 3% of the net asset value of the Company.
XV:3.2
Performance-related incentive fees
The Manager will receive a performance incentive fee of 19% of cumulative Dividends (prior to calculation of performance
incentive fees) in excess of £1.00 per G Share, rising to 29% of cumulative Dividends (prior to calculation of performance
incentive fees) in excess of £1.20 per G Share. In addition, a performance fee of 1% (calculated on the same basis as
the Manager’s performance fee) will be payable to the Chairman of the Company.
Life of the Fund
It is the Company’s objective to return funds to G Shareholders as soon as possible after the end of the minimum five
year holding period following the date of allotment of the G Shares, by way of final dividend and/or buy back of the G
Shares. However, subject to Shareholders’ Approval, the Articles of Association of the Company will contain a provision
requiring the Directors to propose an ordinary resolution at the Company’s annual general meeting in 2017 to discontinue
the Company, in order to deal with G Shares which have not by then been repurchased. If any such resolution is passed,
the Directors are required to draw up proposals for the re-organisation, reconstruction or voluntary winding-up of the
Company for consideration by the members at an extraordinary general meeting on a date not more than four months
after such annual general meeting. Implementation of such proposals will require the approval of members by special
resolution. At this point, the intention would be to return remaining available funds to investors.
VCT status monitoring
PricewaterhouseCoopers LLP is retained by the Company to advise on compliance with the tax requirements relating to
VCTs. It is intended that PricewaterhouseCoopers will, if requested by the Board, review the qualifying status of new
investment opportunities and carry out regular reviews of the Company’s investment portfolio. PricewaterhouseCoopers
will work closely with the Manager and the Company’s auditors but will report direct to the Board.
Shareholder communication
The Company makes up its annual report and accounts to 28 February in each year and these are normally sent to
Shareholders in June. Shareholders are also sent unaudited half-year reports made up to 31 August in each year. These
accounts are also made available on the Company’s website www.edge.uk.com/edgeperformancevct as is information
on events promoted by the Events Companies; details of priority booking arrangements for Shareholders in relation to
certain events are also published on the website.
Current trading and financial position
Capital Structure
Through previous offers for subscription, the following amounts have been raised:
Offer Date Opened Amount Raised
Ordinary Shares January 2006 £6,288,150
C Shares December 2006 £13,224,820
D Shares November 2007 £19,009,000
E Shares November 2008 £9,646,300
F Shares November 2008 £29,056,655
£77,224,925
I:9.1