23rd Sep 2005 07:00
Syndicate Asset Management PLC 23 September 2005 23 September 2005 Syndicate Asset Management plc Introduction to trading on AIM Admission Document Published Today The Ordinary Shares of Syndicate Asset Management plc ('SAM' or 'the Company'), are today being admitted to trading on AIM. The Company has raised gross funds of £33 million by way of a private cash subscription for Ordinary Shares. There are 93,166,666 shares in issue. The Company has been established as a strategic investment company specifically to build a fund management group, primarily within UK and European markets. In addition, on 9 September 2005, SAM announced that it had agreed the terms of a recommended cash offer for the entire issued and to be issued share capital of Ashcourt Holdings Plc ('Ashcourt') for a maximum consideration of approximately £13.1 million. Furthermore, the Company has identified a number of other potential acquisitions and is engaged in negotiations and due diligence investigations in relation to several of these. Noble & Company Limited is both Nominated Adviser and Broker to the Company. The solicitors to the Company are Memery Crystal Solicitors and the reporting accountants are Ernst and Young LLP. Copies of the Admission Document are available during normal business hours on any weekday (except public holidays) at the offices of Noble & Company Limited, 120 Old Broad Street, London EC2N 1AR for a period of one month from today. Introduction Statistics: Number of Ordinary Shares in issue on Admission 93,166,666 David Pinckney, Chairman of SAM, commented: 'I am very pleased that SAM has been successfully admitted to AIM. Our admission, coupled with the announcement of our recommended offer for Ashcourt, represents an important first step in the development of our company. Looking forward, market conditions remain favourable and we are actively pursuing a number of further acquisition opportunities and I hope to be able to give an update on our activities in due course.' Admission and dealings in the Ordinary Shares are expected to commence today, 23rd September 2005. Enquiries: SAM plc Jonathan Freeman, Director Tel: 020 7487 5540 Noble & Company Limited Matthew Hall, Director Tel: 020 7763 2200 Citigate Dewe Rogerson Justin Griffiths Tel: 020 7282 2837 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Syndicate Asset Management