Announcement of Substantial Transaction
August 17 2010 - 3:24AM
UK Regulatory
TIDMSIAG TIDMFCAM
RNS Number : 1777R
Sherborne Investors (Guernsey) A
17 August 2010
17 August 2010
Sherborne Investors (Guernsey) A Limited
Announcement of Substantial Transaction
In accordance with Rule 12 of the AIM Rules, Sherborne Investors (Guernsey) A
Limited (the "Company") announces that SIGA, LP (together with the Company, the
"Group") has purchased 26,556,198 ordinary shares in F&C Asset Management plc
("F&C") (LSE: FCAM) at a total cost of GBP15,587,631, including commissions and
expenses (the "Acquisition"). The Acquisition was funded by the Group's
existing cash resources.
The shareholding in F&C was acquired within the price parameters approved by the
Board of the Company. The Group may continue to acquire shares in F&C, but if
it is unable to acquire a large enough shareholding at an acceptable price, the
Group may elect to dispose of its shareholding in F&C and invest in another
company. Further, pursuant to the Group's Investment Policy the Group intends
that its shareholding in F&C will not reach such a level as to require the Group
to make a bid for the entire company.
Enquiries:
+-------------------------------+-------------------------------+
| Financial Dynamics | +44 (0)20 7269 7170 |
| Jonathon Brill/Billy Clegg | |
| | |
+-------------------------------+-------------------------------+
| Sherborne Investors | +44 (0)14 8172 1672 |
| (Guernsey) A Limited | |
| Ian Brindle (Chairman) | |
| | |
+-------------------------------+-------------------------------+
| RBS Hoare Govett Limited | +44 (0)20 7678 8000 |
| (Nominated Adviser) | |
| John MacGowan/Luke | |
| Simpson/Gary Gould | |
| | |
+-------------------------------+-------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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