Volta Finance Limited

Miscellaneous

Volta Finance Limited (VTA) - Change in Directors' Remuneration

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

*****
Guernsey, 29 March 2017

Volta Finance Limited (the "Company" or "Volta") announces a change in the Directors' remuneration following a detailed external review carried out by Trust Associates.

At a meeting on 28 March 2017, upon the recommendation of the Remuneration Committee the Board adopted Trust Associates' recommendations in full, backdated to 1 February 2017, noting that the purpose of the changes is primarily to simplify the current Directors' remuneration and align it more closely with shareholders' interests.

The new annual remuneration is:

Chairman - €120,000
Director - €88,000
Additional fee for Audit Chair - €17,500
Additional fee for Senior Independent Director - €6,000
Additional fee for Risk Chair - €6,000

30% of each Director's remuneration will continue to be paid in shares but the number of shares allocated will be calculated based on NAV rather than at share price, as previously. The NAV used will be the most recently available Estimated NAV.

The Directors' fees will continue to be paid quarterly. 

In addition, Directors will now be required to retain shares for at least one year.

The Company's previous Directors' remuneration was:

The Chairman was entitled to receive an annual fee of €120,000. Each of the other Directors was entitled to receive an annual fee of €60,000, plus an additional fee of €10,000 per meeting for each of the first four meetings of the Board attended in person by such Director in any calendar year. Such fees are payable quarterly in arrears.

Each Director received 30% of his or her Director's fee in the form of newly issued shares at a share price equal to the average per share closing price of the shares on Euronext Amsterdam over the 60 consecutive Euronext Amsterdam trading days preceding the date of issuance. The Directors were obliged to retain those shares for a period of no less than six months from their respective dates of issuance.

For further information, please contact:

Company Secretary and Portfolio Administrator
Sanne Group (Guernsey) Limited
[e-mail]
[phone]

Corporate Broker
Cenkos Securities plc
Alan Ray
Oliver Packard
Sapna Shah
[phone]

For the Investment Manager
AXA Investment Managers Paris
Serge Demay