SVG Capital seeks shareholder approval for formalisation of relationship with Permira

SVG Capital's proposed changes in investment policy places primary focus on Permira. It proposes to be the major investor in Permira's next two funds - providing SVG Capital full access to Permira IV and Permira V. Additionally, SVG Capital proposes to issue 6 million shares at 600p to Permira Capital, a premium of 6.7% to the 31 December 2004 net asset value, including a 22.2p per share valuation for SVG Advisers and SVG Investment Managers. This move should further align the interests of Permira with SVG Capital's shareholders and the performance of Permira Funds. Furthermore, the appointment of Damon Buffini, managing partner of Permira, to the board of SVG Capital, has been proposed.

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• UK / Ireland