BRIEF-GAIA Infrastructure Says Termination Of Management Agreement

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BRIEF-GAIA Infrastructure Says Termination Of Management Agreement
Credit: © Reuters.

April 16 (Reuters) - GAIA Infrastructure Capital Ltd GAIJ.J :

* JSE: GAI - TERMINATION OF THE MANAGEMENT AGREEMENT

* GAIA INFRASTRUCTURE CAPITAL LTD - GAIA IS LIABLE TO PAY MANCO A TERMINATION FEE EQUAL TO 5% OF ENTERPRISE VALUE DETERMINED AS AT TERMINATION DATE.

* GAIA INFRASTRUCTURE CAPITAL - BOARD RESOLVED TO INTERNALISE MANAGEMENT OF GAIA'S INVESTMENT PORTFOLIO AND ASSETS BY AMENDING TERMINATION FEE PAYABLE

* GAIA INFRASTRUCTURE CAPITAL LTD - TERMINATION FEE CALCULATED TO BE APPROXIMATELY R24 MILLION

* GAIA - RESOLVED TO INTERNALISE MANAGEMENT OF CO'S INVESTMENT PORTFOLIO, ASSETS BY TERMINATING MANAGEMENT SERVICES AGREEMENT DATED 27 OCTOBER 2015

* GAIA INFRASTRUCTURE CAPITAL - TERMINATION FEE WILL BE FUNDED THROUGH INTERNAL CASH RESOURCES AND WILL BE PAYABLE ON TERMINATION DATE

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