Literacy Capital PLC (GB:BOOK) has released an update.
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Literacy Capital PLC has announced changes to its investment management agreement that will increase its management fee to 1.5% of net assets starting January 2025, while also reducing its charitable donations from 0.9% to 0.5% of net assets per annum. This adjustment aims to provide the investment manager with more resources to support its growing portfolio and maintain strong returns for shareholders. Despite these changes, the total cost to shareholders will only marginally increase from 1.8% to 2.0%, as the company continues its commitment to making a significant impact through charitable contributions to UK literacy causes.
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