AURORA INV TST PLC — Capital/Financing Update 2016

Aug 24, 2016

This document comprises a supplementary prospectus relating to Aurora Investment Trust plc (the "Company") prepared in accordance with the prospectus rules and listing rules of the UK Listing Authority made under section 73A of the Financial Services and Markets Act 2000 (the "Supplementary Prospectus"). This document has been approved by the Financial Conduct Authority in accordance with section 85 of the Financial Services and Markets Act 2000. This document will be made available to the public in accordance with the Prospectus Rules by being made available at www.aurorainvestmenttrust.com.

This Supplementary Prospectus is supplemental to, and should be read in conjunction with, the prospectus published by the Company on 22 March 2016 (as supplemented by the supplementary prospectus dated 30 June 2016) relating to the Issue of New Shares including an Initial Placing and Placing Programme (the "Prospectus"). Except as expressly stated herein, or unless the context otherwise requires, the definitions used or referred to in the Prospectus also apply in this Supplementary Prospectus.

The Directors of the Company and the Company each accept responsibility for the information contained in this Supplementary Prospectus and the Prospectus. The Directors and the Company, having taken all reasonable care to ensure that such is the case, believe the information contained in this Supplementary Prospectus and the Prospectus is, to the best of the knowledge of the Directors and the Company, in accordance with the facts and does not omit anything likely to affect the import of such information.

AURORA INVESTMENT TRUST PLC

(Incorporated in England and Wales with registered no. 03300814 and registered as an investment company under section 833 of the Companies Act 2006)

Issue of New Shares including an Initial Placing and a Placing Programme

Sponsor
Dickson Minto W.S.

Placing Agent
Liberum Capital Limited

This Supplementary Prospectus and the Prospectus do not constitute, and may not be used for the purposes of, an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. The distribution of this Supplementary Prospectus and the Prospectus and the offering of New Shares in certain jurisdictions may be restricted and accordingly persons into whose possession this Supplementary Prospectus and/or the Prospectus comes are required to inform themselves about and to observe such restrictions. The New Shares have not been, and will not be, registered under the United States Securities Act of 1933 (as amended) or under any of the relevant securities laws of Canada, Australia or Japan. Accordingly, the New Shares may not (unless an exemption from such Act or such laws is available) be offered, sold or delivered, directly or indirectly, in or into the USA, Canada, Australia or Japan. The Company will not be registered under the United States Investment Company Act of 1940 (as amended) and investors will not be entitled to the benefits of such Act.

The Placing Agent and the Sponsor, each of which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, are acting exclusively for the Company and for no one else in relation to the Issues. Apart from the responsibilities and liabilities, if any, which may be imposed on the Placing Agent and the Sponsor by the Financial Services and Markets Act 2000 or the regulatory regime established thereunder, the Placing Agent and the Sponsor will not be responsible to anyone other than the Company for providing the protections afforded to clients of the Placing Agent or the Sponsor or for advising any other person in relation to the Issues or any transaction contemplated in or by this document.

Potential investors should consult their stockbroker, bank manager, solicitor, accountant or other financial adviser before investing in the Company. Potential investors should also consider the risk factors relating to the Company set out in the Prospectus.

24 August 2016

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Events arising since publication of the Prospectus

This Supplementary Prospectus is being published in relation to the Issues. This Supplementary Prospectus is a regulatory requirement under the Prospectus Rules following the publication of the Company's half yearly financial report for the period ended 30 June 2016. This Supplementary Prospectus has been approved for publication by the Financial Conduct Authority.

Significant new factor

Half yearly financial report for the four months ended 30 June 2016

On 18 August 2016, the Company announced that it had published its unaudited half yearly report for the four months ended 30 June 2016 (the "Half Yearly Report"). By virtue of this document, the Half Yearly Report is incorporated into, and forms part of, the Prospectus.

Supplements to the summary

As a result of the publication of the Half Yearly Report, the summary document which forms part of the Prospectus is hereby supplemented as follows:

B.7	Key Financial Information
	Selected unaudited financial information relating to the Company which summarises the financial condition of the Company for the four months ended 30 June 2016 is set out in the following table:
		Half Yearly report for the four months ended 30 June 2016
	Net asset value
	Net assets (£'000)	27,887
	Net asset value per Ordinary Share (p)	147.96
	Ordinary Share price (p)	154.00
	Income
	Revenue return after expenses and taxation (£'000)	180
	Revenue return per Ordinary Share (p)	1.06
	Dividend per Ordinary Share (p)	-
	Ongoing charges
	As a percentage of average total Shareholders' funds	-
	Portfolio summary
	Shareholders' funds (£'000)	27,887
	NAV/share price returns
	Net asset value return	-
	Ordinary Share price return	-
	Since 30 June 2016 (being the end of the last financial period of the Group for which financial information has been published) there has been no significant change to the Group's financial condition or its operating results.

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Historical financial information

Historical financial information relating to the Company on the matters referred to below is included in the published Half Yearly Report as set out in the table below and is expressly incorporated by reference into this document and the Prospectus. The documents incorporated by reference can be obtained from the Company's website, www.aurorainvestmenttrust.com. The non-incorporated parts of the Half Yearly Report are either not relevant to investors or covered elsewhere in the Prospectus.

Half yearly report
for the four
months ended 30
June 2016
Page No.

Nature of information

Investment Policy and Performance 1
Investment Manager's Review 2-4
Sector Breakdown 5
Holdings 6
Statement of Comprehensive Income 9
Statement of Changes in Equity 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Financial Statements 13-14

Selected financial information

The information in this section is information regarding the Company which has been prepared by the Company and has been extracted directly from the historical financial information referred to in the above section entitled 'Historical financial information'. Selected unaudited historical financial information relating to the Company which summarises the financial condition of the Company for the four months ended 30 June 2016 is set out in the following table:

Half yearly report
for the four
months ended 30
June 2016

Net asset value

Net assets (£'000) 27,887
Net asset value per Ordinary Share (p) 147.96
Ordinary Share price (p) 154.00

Income

Revenue return after expenses and taxation (£'000) 180
Revenue return per Ordinary Share (p) 1.06
Dividend per Ordinary Share (p) -

Ongoing charges

As a percentage of average total Shareholders' funds -

Portfolio summary

Shareholders' funds (£'000) 27,887

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NAV/share price returns

Net asset value return

Ordinary Share price return

Operating and financial review

A description of changes in the performance of the Company, both capital and revenue, and changes to the Company's portfolio of investments is set out in the sections headed "Investment Policy and Performance", "Investment Manager's Review", "Sector Breakdown" and "Holdings" in the published Half Yearly Report of the Company as follows:

	Half Yearly Accounts for four months ended
Nature of information	30 June 2016
Investment Policy and Performance	1
Investment Manager's Review	2-4
Sector Breakdown	5
Holdings	6

Significant change

Since 30 June 2016 (being the end of the last financial period of the Group for which financial information has been published), there has been no significant change in the financial or trading position of the Group.

Documents available for inspection

Full copies of the Half Yearly Report are available for inspection during normal business hours on any weekday (Saturdays, Sundays and public holidays excepted) at the offices of Dickson Minto W.S., Broadgate Tower, 20 Primrose Street, London EC2A 2EW and at the registered office of the Company, Mermaid House, 2 Puddle Dock, London EC4V 3DB until 24 March 2017. Full copies of the Half Yearly Report are also available on the Company's website www.aurorainvestmenttrust.com.

This Supplementary Prospectus is available for inspection at http://www.morningstar.co.uk/uk/NSM and, until 24 March 2017, copies are available for collection, free of charge, from the offices of Dickson Minto W.S., Broadgate Tower, 20 Primrose Street, London EC2A 2EW and from the registered office of the Company, Mermaid House, 2 Puddle Dock, London EC4V 3DB. This document is also available on the Company's website www.aurorainvestmenttrust.com.

General

To the extent that there is any inconsistency between any statement in or incorporated by reference in this document and any other statement in or incorporated by reference in the Prospectus, the statements in or incorporated by reference in this document will prevail.

Save as disclosed in this Supplementary Prospectus, no other significant new factor, material mistake or inaccuracy relating to information included in the Prospectus has arisen or been noted, as the case may be, since the publication of the Prospectus.

24 August 2016

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