M&L Property & Assets PLC Change of Adviser
September 17 2015 - 8:07AM
UK Regulatory
TIDMPHU
M&L Property & Assets Plc (the "Company")
Change of Asset Manager
Following a corporate reorganisation at Midas Investment Management Limited
("Midas"), the Company's asset manager, the asset management agreement between
the Company and Midas will be novated to a new entity named M & L Capital
Management Limited ("MLCM"). The commercial terms of the asset management
agreement will be unchanged.
The novation of the asset management agreement (the "Transaction") is deemed to
be a related party transaction pursuant to AIM Rule 13, as both Midas and MLCM
are 100 per cent owned subsidiaries of M&M Investment Company plc, which is a
company 100 per cent owned by Mark Sheppard and trusts associated with Mr.
Sheppard and his immediate family.
The directors of the Company, who are independent of the Transaction, having
consulted with Cairn Financial Advisers LLP, the Company's nominated adviser,
consider that the terms of the Transaction are fair and reasonable insofar as
the Company's shareholders are concerned.
For further information, please contact:
Asset Manager:
M & L Capital Management Limited
Mark Sheppard
Tel: 00 44 (0) 20 7584 5733
Nominated Adviser:
Cairn Financial Advisers LLP
Liam Murray
Tel: 00 44 (0) 20 7148 7900
END
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