Mercer Resources PLC Related Party Transaction (4279O)
September 19 2013 - 7:20AM
UK Regulatory
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RNS Number : 4279O
Mercer Resources PLC
19 September 2013
19 September 2013
Mercer Resources Plc (AIM: MCR)
("Mercer" or the "Company")
Related Party Transaction
Following the disposal of its former private client stockbroking
and corporate finance operating business and its subsequent
reclassification as an investing company, Mercer has entered into
an agreement with Stanhill Capital Partners Holdings Limited
("Stanhill") for the provision of general management, accounting,
office facilities and company secretarial services at an annual
cost of GBP42,000 per annum (the "Agreement").
Stanhill is part of the same group as Stanhill Special
Situations Fund Limited, which owns 13.93 per cent. of the issued
share capital of Mercer. Consequently, the entering into the
Agreement is a related party transaction under the AIM Rules.
Accordingly, Shahed Mahmood, the director of Mercer who is
independent of Stanhill, having consulted with Cairn Financial
Advisers LLP, the Company's Nominated Adviser, considers that the
terms of the Agreement are fair and reasonable in so far as the
Company's shareholders are concerned.
Enquiries:
Trevor Wells Mercer Resources plc 020 3301 9331
Nominated Adviser Cairn Financial Advisers
James Caithie/Avi Robinson LLP 020 7148 7900
Broker Peterhouse Corporate Finance
Lucy Williams/Heena Karani Limited 020 7469 0932
This information is provided by RNS
The company news service from the London Stock Exchange
END
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