Crown Place VCT PLC. The Group's principal activity is that of a Venture Capital Trust. The Group is not an Investment Company within the meaning of Section 266 of the Companies Act 1985. The Group has been approved by the HM Revenue and Customs as a Venture Capital Trust for the purposes of Section 842AA of the Income and Corporation Taxes Act 1988 for the year ended 30-Jun-2008.Investment management services are provided by Close Venture Management Ltd for a fee calculated at 1.75% per annum (plus any applicable VAT) of the net asset value of the Group payable quarterly in arrears. The agreement is terminable by either party on 12 months' notice.