Britannic Smaller Companies Trust Plc - BRI- Profile

Britannic Smaller Companies Trust PLC. The Company's principal activity is that of an Investment Trust. The objective of the company is to achieve long-term capital appreciation by investing in a diversified portfolio of shares of United Kingdom smaller companies. The Company is an Investment Company within the meaning of Section 266 of the Companies Act 1985. The Company has been approved by the Inland Revenue as an Investment Trust under Section 842 of the Income and Corporation Taxes Act 1988 for the year ended 31-Dec-2002.Investment management services are provided by Britannic Investment Managers Ltd for a quarterly fee payable in arrears of 0.2125% (excluding VAT) of the value of the Company's total assets at the end of the relevant quarter. The manager also receives a quarterly administration fee of £8,306 (excluding VAT) payable at the end of the relevant quarter. The agreement is terminable by either party on three months' written notice. Operates as an investment trust