Legal Information And Terms And Conditions Of Use

By accessing this site, you signify your agreement with and understanding of the following terms and conditions of use and legal information. Your use of this site constitutes your agreement to all such terms and conditions without modification. European Convergence Development Company plc ("ECDC") reserves the right to change the terms and conditions without prior notice.

Residence and Nationality

Access to this site is not open to persons who are resident in or nationals of any territory where to allow such access would require any registration, filing or other steps to be taken in order to comply with local laws or other regulatory requirements. It is the responsibility of individual users to ensure that there will be no breach of any such laws or regulatory requirements by reason of their choosing to access and/or download information from the site. If it appears to individual users that there will be a breach of any such laws or regulatory requirements by reason of their choosing to access and/or download information from the site, then such individual users are not permitted to proceed and are kindly requested to exit the site.

Information Purposes Only

The contents of this site are provided for information purposes only and should not be construed as a solicitation or offer or recommendation to acquire or dispose of any investment or to engage in any other transaction in any jurisdiction, either directly or indirectly. This site is intended only for the use of persons who are lawfully able to access it and without causing a breach of any regulatory requirements of their respective countries of residence. If you are in any doubt as to whether or not you may lawfully enter this site, or if you do not understand or have any queries on any information contained on the site, please consult an appropriate professional adviser. An investment in ECDC may only be made by the restricted categories of persons referred to and on the basis of the information set out in the offering memorandum relating to ECDC dated 15 June 2007 (the "Offering Memorandum").

No Reliance or Warranties

While reasonable efforts are made to update information on this site, no representations or warranties are made as to the accuracy, reliability or completeness of any information contained herein and no reliance should be placed upon such information. All information contained herein is indicative only and is for background purposes and is subject to material updating, revision, amendment and verification. Permission to use this site should not be construed as a representation that the information contained herein is correct nor should it be construed as investment, financial, legal, regulatory, accounting or tax advice.

Ownership of Site; Confidentiality

ECDC owns and maintains this site. Nothing herein shall be construed as granting, by implication or otherwise, any licence to use any material on this site. No act of downloading or otherwise copying from this site will transfer title to software or material to any user hereof. All information and materials transmitted to this site will become the property of ECDC, may be used by ECDC for any lawful purpose and may be disclosed by ECDC at its sole discretion. This site may not be copied, distributed, transmitted, displayed, reproduced or modified in any way and the information, software, products and services herein may not be transferred.

Linked Sites

The sites linked to this site have not been reviewed and no responsibility for the content of off-site pages or any other linked site is accepted. Access to any linked site is at the risk of the user and the links are provided for reference only.

Investment Performance

An investment in ECDC is a high risk investment and prospective investors should seek financial advice regarding the appropriateness of investing in shares of ECDC. Prospective investors should understand that statements regarding future prospects may not be realised, that income from an investment in ECDC may fluctuate and that the price or value of shares may rise or fall such that an investor may not receive back the amount originally invested. Past performance is not necessary a guide to future performance. A more complete list of risk factors is set out in the Offering Memorandum.


Please note that the sending of personal information via e-mail over the internet will be at your risk entirely and it may not be secure and can be intercepted by third parties or incorrectly delivered. You should not divulge personal information over the Internet unless you are using a secure or encrypted communications technology. No liability whatsoever is accepted for any loss.


The contents of this site including all information, graphics, code, text, and design are protected by copyright and other intellectual property rights or similar rights which, unless indicated otherwise, are the property of ECDC.

You may download information from the site for your own personal or internal business use only. You may not modify, publish, transmit, participate in the transfer or sale of, create derivative works from, or in any other way exploit, any of the information on this site, in whole or in part except as provided in these terms. Even if you are permitted to use the information you may not make any changes or deletions to any author attribution, trade mark legends or logos or copyright notices.

You may not create any hypertext or similar links or references to this site (including by framing). No rights of any kind are licensed or assigned or shall otherwise pass to persons accessing these pages.

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Investment Manager

Charlemagne Capital (IOM) Limited has been appointed by the Fund as Investment Manager to manage its investments subject to the overall supervision of the Directors. The Investment Manager is incorporated in the Isle of Man and is part of the Charlemagne Capital Group of companies which includes the Share Distributor and the Company Secretary. It is licensed to conduct investment business by the Isle of Man Financial Supervision Commission and is registered as an investment adviser with the Securities Exchange Commission.

The Charlemagne Capital Group is an international emerging markets investments group with offices in the Isle of Man and London. The shares of the Charlemagne Capital Group parent, Charlemagne Capital Limited, are listed on the AIM Market of the London Stock Exchange. The Charlemagne Capital Group has two principal investment operations, being public and private equity. As at 31 March 2014 the Charlemagne Capital Group had c.US$2.6 billion of assets under management. The officers of Charlemagne Capital (IOM) Limited have extensive experience in the management of alternative investment products with global mandates and have been involved in managing portfolios of both open end and closed end funds since 1991.

The biographies of the key principals of the Investment Manager are as follows:

Michael Russell (British) is a qualified accountant (CIMA) with over 25 years’ experience in the property industry working at board level as CFO or CEO for both listed and non-listed companies. Prior to joining Charlemagne Capital, Michael worked for Jones Lang LaSalle as part of its private equity team in London, as investment manager to eight property funds with investments in the UK and Europe and was responsible for the successful launch of a £35 million UK focused property development fund with investor backing from the Middle East. Prior to Jones Lang LaSalle, Michael was CEO for two years and CFO for five years of Chelsea Village plc, the AIM listed owner of Chelsea Football Club at which Michael led the team which achieved a listing for the company and subsequently raised £75.0 million in a First Mortgage Debenture Bond, the first of its type in the industry to enable the company to develop the facilities at Stamford Bridge. Michael joined Charlemagne Capital in May 2009 and has overseen the introduction of three new funds, one in China and two in Brazil and six investments in Nanjing, China, Maceio and Salvador in Brazil and Iasi, Ordea and Sibui in Romania, whilst at the same time overseeing the previous developments in Eastern Europe and China.

Jane McAndry is Managing Director of the Investment Manager and is also a Director of Charlemagne Capital Limited. Mrs McAndry joined the Charlemagne Capital as a director of Charlemagne Capital (IOM) Limited in July 2007. She was appointed Group Company Secretary in August 2007 and a director of Charlemagne Capital Limited in February 2008. She became managing director of the Group's Isle of Man subsidiaries from 1 April 2009. Jane previously spent seven years in senior roles, ultimately as Head of the Legal and Policy Unit, with the Isle of Man Financial Supervision Commission. Prior to that, she was legal director of Intertrust (Isle of Man) Limited, part of an international tax planning and fiduciary services group. Jane began her legal career in Edinburgh, where she qualified as a Scottish solicitor, and has wide ranging legal experience.

Lloyd Jones (executive director) joined Charlemagne as Chief Financial Officer in 2010. He is a Chartered Accountant (FCA) and has an MBA in Finance; he also has extensive financial and operational expertise at a senior level, most recently as Finance Director and Head of Operations at Nedgroup Investments (IOM) Limited.

Privacy and Cookies Policy

This Privacy and Cookies Policy explains how we use cookies on the European Convergence Development Company plc website.

Cookies are small text files that stored by your web browser that allow certain details to be recorded and provided to the owners of the site. Our website uses performance cookies to collect anonymous information about visitor usage. No personal or identifiable information is collected or stored and by using our website, you agree that we can place these types of cookies on your device.

The information these cookies provide is used to track how visitors use our website. We use the information to compile reports and help us improve the user experience of the site. The information collected includes the number of visitors to the site, where visitors have come from and the pages they visited.