Dragon-Ukrainian Properties & Development to pay lower management fee
Source - SMW
Dragon-Ukrainian Properties & Development said it had negotiated a reduction in management fees with investment manager DCM.
The fixed management fee component had been cut to $0.8m a year in both 2019 and 2020, down from the $1.0m currently paid.
The change was made after the distributions were paid to shareholders following assets dispoals, which had reduced the company's net assets.
The fixed performance fee would remain the same, at 5%.
At 1:30pm: (LON:DUPD) DragonUkrainian Properties Development PLC share price was -0.75p at 12.2p