Source - RNS
RNS Number : 4325J
Ennismore Smaller Companies Plc
09 September 2016





For Immediate Release


9 September 2016








Ennismore Smaller Companies plc

(the "Company")







The board of directors of the Company wish to announce that, as a result of the implementation of Directive 2014/91/EU (commonly referred to as the UCITS V Directive) and its transposition into Irish law, the agreement between the Company and Northern Trust Fiduciary Services (Ireland) Limited (the "Depositary") has been amended and took effect on 8 September 2016 (the "Depositary Agreement").


Under the terms of the Depositary Agreement, the Depositary may delegate its safekeeping obligations provided that (i) the services are not delegated with the intention of avoiding the requirements of the UCITS Regulations, (ii) the Depositary can demonstrate that there is an objective reason for the delegation and (iii) the Depositary has exercised all due, skill, care and diligence in the selection and appointment of any third party to whom it wants to delegate parts of the safekeeping services, and keeps exercising all due skill, care and diligence in the periodic review and ongoing monitoring of any third party to whom it has delegated parts of its safekeeping services and of the arrangements of the third party in respect of the matters delegated to it. The liability of the Depositary will not be affected by virtue of any such delegation. The Depositary has delegated to its global sub-depositary, The Northern Trust Company, London branch, responsibility for the safekeeping of the Company's Financial Instruments and cash. The global sub-depositary proposes to further delegate these responsibilities to sub-delegates.


The Depositary Agreement provides that the Depositary shall be liable: (i) in respect of a loss of a Financial Instrument (as defined in the UCITS V Directive) held in its custody (or that of its duly appointed delegate) unless it can prove that the loss has arisen as a result of an external event beyond the Depositary's reasonable control, the consequences of which would have been unavoidable despite all reasonable measures to the contrary, and (ii) in respect of all other losses as a result of the Depositary's negligent or intentional failure to properly fulfil its obligations pursuant to the UCITS Regulations.


The Depositary Agreement will continue unless and until terminated by the Company or the Depositary giving to the other parties not less than 90 days' written notice.


Pursuant to the Depositary Agreement, the Depositary will be paid a fees at a rate of 0.0225% per annum of the Net Asset Value of each sub-fund, accrued daily and paid monthly in arrears.


A revised Prospectus dated 8 September 2016 in respect of the Company has been issued.










Northern Trust International Fund Administration Services (Ireland) Limited


The Company Secretary

Tel: + 353 1 542 2362


McCann FitzGerald Listing Services Limited

Tony Spratt

Tel: + 353 1 607 1367





This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange




This information is provided by RNS
The company news service from the London Stock Exchange