Common use of Realisations Clause in Contracts

Realisations. 6.1. The Investor may make a request for a partial or full Realisation (which for these purposes includes sale of Investments) of their Investment at any time. The Investment Manager will endeavour to return funds before the end of the following quarter following the receipt of a Realisation request. 6.2. The Investor should note that it may not be practicable for their holding in Investee Companies to be sold, which may cause a delay in completing a Realisation request. 6.3. Investors should also note that they are likely to lose Business Relief in respect of the shares sold from their Portfolio. The Investment Manager is not responsible for the taxation consequences of any transaction. Save for Business Relief, the Investment Manager is not required to take into account any Investor tax issues in the management of the Portfolio. 6.4. Any request for a Realisation must be made in writing to the Investment Manager stating the amount of the Investment to be realised (“Realisation Notice”). A Realisation Notice, once served, is irrevocable but the Investment Manager, in its absolute discretion, reserves the right to accept or reject the request for a Realisation (which is likely to be the case where the remaining value of the Portfolio following any such Realisation would be below £10,000). The Investment Manager may effect a disposal of Shares from a Portfolio by way of sale to a third party in a matched bargain, or the Shares may be realised by way of a share buyback by an Investee Company.