Pulse Investments Limited (PULS) – Management Fees

Pulse Investments Limited (PULS) has advised that at a meeting held on July 20, 2018,  the Board of Directors discussed management fees paid by the Company. After said deliberations, the Board decided that the Chairman, Director of Special Projects, major shareholder and former CEO, Mr. Kinsley Cooper, no longer receives management fees from the Company, effective July 1, 2018.

PULS has advised that over many years, Mr. Cooper has provided a variety of services including, but not limited to, building design, construction planning and execution, as well as legal vetting. These contributions, which fall outside the scope of his duties as Chairman and CEO, saved PULS many millions of dollars. Against this background, management fees were paid. The decision to forego these management fees, initiated by Mr. Cooper, will immediately boost earnings, all else being equal.

The Board and Mr. Cooper now believe that the Company has achieved a level of maturity, a point at which the Board wishes to demonstrate its complete confidence in the Company’s future prospects by aligning the interests of all shareholders, including those of Mr. Cooper, to the Company’s performance and the resulting dividends paid.