12th Oct 2010 13:15
Invista European Real Estate Trust SICAF
("IERET" or the "Company")
Announcement re Investment Manager
The Board of Invista European Real Estate Trust SICAF ("IERET") has noted the announcement made today by Invista Real Estate Investment Management Holdings plc ("Invista"), which has been the investment manager to IERET since IERET's formation in 2006.
In the announcement, Invista discloses that notice has been given for the termination of its asset management contract with Lloyds Banking Group plc and refers to the proposed sale of its asset management business as a result.
The Board of IERET has received assurances from Invista regarding the continuing quality of the investment management services to be provided. The Board will take all necessary steps to secure the stability and continuity of the management of IERET's assets by the current team, for which the Board has a high regard. It is therefore engaging proactively in discussions with Invista in order to achieve an outcome in the best interests of IERET's shareholders.
A further announcement will be made if any developments occur that are material to IERET's shareholders.
The Announcement will shortly be available to view on the Company's website (www.ieret.eu).
For further information:
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J.P. Morgan Cazenove (Joint Broker) William Simmonds Tel: +44 (0) 20 7588 2828
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Liberum Capital (Joint Broker) Chris Bowman Tel: +44 (0)20 3100 2000
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12 October 2010
Related Shares:
IERE.L