As we approach our final closing, we kindly request your prompt approval of the proposed amendments to the Limited Partnership Agreement, which have been necessitated by the onboarding of our new Anchor investor. These changes have been reviewed by YPOG (ypog.law) with modifications that are favorable to Limited Partners, including;
- Establishment of a total cap management fees and guidelines on capital calls.
- Introduction of a 'no-fault removal' option for Non-Managing Limited Partners.
- Mandatory audits for both the fund and the ManCo.
- Clarifications regarding time commitments from Lucid Key Persons.
- Enhanced guidelines ensuring Lucid's focus on early-stage strategies and clearer definitions regarding Co-Investments.
Pease complete this shareholder vote latest 13 September 2024