28th Jan 2010 11:52
News release
28 January 2010
Midas Capital plc trading update for year ended 31 December 2009
Trading Update
For the year ended 31 December 2009,the Group's trading has been better than forecast. The Fund management division traded profitably during the year reflecting the improved market conditions. The Group has now completed the disposals of the corporate finance and wealth management businesses.
As at 31 December 2009, the Group funds under management and advice ('FUM&A') excluding the discontinuing activities were £1.57bn (2008: £1.53bn). In the year, the Group experienced marginal net redemptions in its FUM&A, albeit lower than expected, and is reassured by the level of support continuing to be shown by investors.
Notice of Full Year Results
Midas expects to announce its preliminary results for the year ended 31 December 2009 in late March 2010.
For further information, please contact:
Colin Rutherford, Executive Chairman, Midas 07768 053 054
Roland Cross, Director, Broadgate Mainland 020 7726 6111
James Steel, Arbuthnot Securities Limited 020 7012 2000
(Nominated Advisor and Broker to Midas)
Web: www.midascapitalplc.com
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