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.

I accept these Terms & Conditions

Investment Policy (adopted on 2nd October 2014)

Investing strategy – asset allocation – geographic focus and sector focus

The Board will seek to realise the Company’s Properties in an orderly manner, such realisations to be effected at such times, on such terms and in such manner as the Board (in its absolute discretion) may determine.

Assets or companies in which the Company can invest

The Company will not make any investments in new properties.

However, this will not preclude the Board (in its absolute discretion) from making any investment in existing Properties in the following circumstances:

These above restrictions will not preclude the Company making investments in short dated cash or near cash equivalent securities, which form part of its cash management practices.

Strategy by which the investing policy will be achieved

The Board and the Manager will investigate a number of approaches to realisation of its Properties, which will include, but not be limited to, sales of individual assets or groups of assets or a sale of the entire portfolio (or a combination of such methodologies).

The Board and the Manager may decide to appoint independent advisers to assist in the execution of the New Investing Policy, including, but not limited to, property valuers and property agents.

Whether investments will be active or passive investments

The Manager assumes a proactive approach to every Property project in the Company’s Property portfolio.

Holding period for investments

The New Investing Policy includes an orderly realisation of the Company’s Properties with a view to maximising returns for Shareholders. Accordingly, the Board will seek to realise the Company’s Properties and exercise all legal rights of the Company in such manner and on such timescale as the Directors see fit, with a view to ensuring that returns to shareholders are maximised.

Spread of investments and maximum exposure limits

The Company does not have a prescribed policy in relation to the spread of investments or maximum exposure limits.

The realisation of the Company’s Properties over time, may result in the Company having a reduction in the diversification of investments. However, the realisation of the Company’s Properties over time will also result in the reduction of the Company’s overall investment in real estate assets.

Policy in relation to gearing and cross holdings

Given that the New Investing Policy is to seek to exit the Company’s Properties as soon as practicable, it is not expected that the Company will secure additional debt financing other than where the Company believes it is required to protect or enhance the value and saleability of such Property.

Investing restrictions

Other than the requirement for the Manager to manage any potential conflicts of interest, and the requirement to invest in accordance with its New Investing Policy, there are no other investing restrictions.

Nature of returns that the Company will seek to deliver to Shareholders

Under the New Investing Policy, the Board will seek to return any surplus funds to Shareholders when appropriate. The net proceeds of all Property realisations will be returned to Shareholders, at the Board's discretion, having regard to:

It is expected that surplus capital will be returned to Shareholders over time in a manner which may involve dividends, share buy-backs, voluntary tender offers, dividends and/or capital reductions. The decision to make any such returns, the method through which such returns are effected, as well as the quantum and timing of any such returns will be at the sole discretion of the Board.

Other matters

Cash management

Pending future returns of value to Shareholders, all of the Company’s funds (whether in the form of cash or otherwise) will be kept under the control of the Board or as it may direct.

Management of liabilities

The Company will endeavour, at the direction of the Board (in its absolute discretion), to manage all actual or potential material liabilities, risks or exposures of the Company (including, without limitation, any existing contractual commitments, disputes (potential or actual) and litigation (threatened or actual)) in a manner consistent with the orderly realisation of the Company’s Properties.

Conflict policy

The Directors, the Manager and any member of the Charlemagne Group and any of their shareholders, officers, employees, agents and affiliates ("Interested Parties") may be involved in other financial, investment or other professional activities which may on occasion cause conflicts of interest with the Company. The Manager (or any other Interested Party) may, for example, make investments on its own behalf or for other clients. Situations may arise in which the Manager's own account activities or those of its affiliates or those made on behalf of other clients may disadvantage the Company.

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.