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Regulator Disclosures

Pillar 3 Disclosure

Regulatory Context

Park Square Capital, LLP (“Park Square”) is authorised and regulated by the Financial Conduct Authority (the “FCA”) as an investment advisory firm. Park Square is registered under the FCA (registered number 414858). It is categorised as a BIPRU 125k limited licence firm, and is required to disclose Pillar 3 information.

Pillar 3 Disclosure Policy

The disclosure will be published on an annual basis as soon as practical after Park Square’s annual accounts have been audited and will be based on the position as at the ‘Accounting Reference Date’ which is 31st December. The Pillar 3 disclosure document is held at Park Square’s office premises situated at 7th floor, Stratton House, 5 Stratton Street, London, W1J 8LA and can be viewed during office hours Monday to Friday 9-5pm. If the circumstances of the business change Park Square will consider whether more frequent publication is necessary. Park Square is not a member of a UK Consolidation Group.

Verification

The information included within the Pillar 3 disclosure will not be audited by Park Square’s external auditors, and does not constitute part of Park Square’s financial statements.


Stewardship Code Disclosure

Conduct of Business Sourcebook rule 2.2.3R, requires Park Square Capital LLP (“the Firm”) to include a disclosure on its website stating the nature of its commitment to the UK Stewardship Code (“the Code”) issued by the Financial Reporting Council in July 2010. If the firm does not commit to the Code, it must state in general terms its alternative investment strategy. The Code is a voluntary code and sets out various principles relating to the level of engagement by investors with UK equity investors. Investors may either comply with the Code in full or choose not to comply with certain aspects of the Code, in which case an explanation of non compliance is required.

The seven principles of the Code are that institutional investors should:

  • Publicly disclose their policy on how they will discharge their stewardship responsibilities;
  • Have and publicly disclose a robust policy on managing conflicts of interest in relation to stewardship;
  • Monitor their investee companies;
  • Establish clear guidelines on when and how they will escalate their activities as a method of protecting and enhancing shareholder value;
  • Be willing to act collectively with other investors where appropriate;
  • Have a clear policy on voting and disclosure of voting activity;
  • Report periodically on their stewardship and voting activities.

The Firm advises and manages funds which invest in various types of European and US debt securities. The Firm’s strategy does not involve any investment in UK listed companies, and the Firm does not anticipate making any such investments in the future.

For this reason, whilst the Firm supports the Code’s objectives and seeks to align its approach with the broad aims of the Code where applicable, it has decided not to commit to the principles of the Code. As part of its strategy the Firm does not anticipate actively engaging on a regular basis with management of investee companies and were there ever to be concerns over governance which might threaten the value of such investments the Firm would consider exercising its voting power to oppose the board and/or disposing of its investment.

Should the Firm’s investment strategy change, there will be a review of its commitment to the code at that time and appropriate disclosures will be made.

For further details on any of the above information please contact Piers Dennison, Head of Investor Relations at the London office address below.

Park Square Capital LLP
31/1/2018
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Remuneration Disclosure

Regulatory Context

Park Square Capital, LLP (“Park Square”) is authorised and regulated by the Financial Conduct Authority (the “FCA”) as Limited Licence Firm. It is therefore subject to FCA rules on remuneration within SYSC Chapter 19A.

Remuneration Disclosure Policy

The disclosure will be published on an annual basis as soon as practical after Park Square’s annual accounts have been audited and will be based on the position as at the ‘Accounting Reference Date’ which is 31st December.

The disclosure document is held at Park Square’s office premises situated at 7th floor, Stratton House, 5 Stratton Street, London, W1J 8LA and can be viewed during office hours Monday to Friday 9-5pm.

If the circumstances of the business change Park Square will consider whether more frequent publication is necessary. Park Square is not a member of a UK Consolidation Group.

Verification

The information included within the remuneration disclosure will not be audited by Park Square’s external auditors, and does not constitute part of Park Square’s financial statements.