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Thomson Financial Business Description:
| The Company's principal activity is that of an Investment Trust. The objective of the Company is to achieve consistent returns for shareholders in excess of the S&P/IFCI Emerging Markets Composite Index in Sterling terms. The Company is an Investment Company within the meaning of Section 266 of the Companies Act 1985. The Company has been approved by the HM Revenue and Customs as an Investment Trust for the purposes of Section 842 of the Income and Corporation Taxes Act 1988 for the year ended 31-May-2006. Investment management services are provided by Progressive Developing Markets Ltd for a fee calculated at a monthly rate of one-twelfth of 1% of the Company's adjusted market capitalisation. The agreement is terminable on a twelve months' notice. |
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