Disclosure of Related Party Transaction

HARGREAVE HALE AIM VCT PLC       

10 April 2019

NEW CUSTODIAN ARRANGEMENTS

On 5 April 2019 the Company entered into a new custody agreement with Canaccord Genuity Wealth Limited. This new arrangement follows the acquisition of Hargreave Hale by Canaccord Genuity Wealth Management. Under the terms of the new custody agreement the annual custody fee will be increased from £10,000 to £30,000. The increase in the annual custody fee reflects the increase in the Company's assets following the merger of the Company and Hargreave Hale AIM VCT 2 plc. The last increase in the Company's custodian fees occurred in 2008. The fee will be reviewed after three months and thereafter annually by benchmarking against other VCTs and investment trusts.

The Custodian is part of the same group as the Company's investment manager and therefore is considered to be a related party together with the investment manager. When aggregated with the commission to be received by the investment manager in relation to the offer agreement entered into on 19 September 2018 the increase in the annual custody fee is classified as a smaller related party transaction as defined in LR 11.1.10R.

For further information please contact:

Oliver Bedford, Canaccord Genuity Fund Management
Tel: 020 7523 4837

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