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