Rockwood Strategic Plc (RKW)

The Company will have an active investing policy and will invest predominantly in publicly listed UK equities capitalised under GBP 250M at the point of investment. Investments will be sought where the shares are valued at less than the Investment Manager's view of their intrinsic value. They will primarily be businesses which the Investment Manager believes offer opportunities for value to be unlocked or created through strategic, management or operational changes, typically leading to improved returns, profits and growth. The Company will seek investments that can generate a 15% IRR over the medium to long-term principally through capital appreciation.