Assetco Share News (ASTO)

UK shareholder meetings calendar - next 7 days

EARNINGS AND TRADING: AssetCo deputy retiring, Chapel Down ups revenue

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

AssetCo shares down as annual loss widens, but managed assets rise

(Alliance News) - AssetCo PLC on Monday reported significantly higher administrative costs and a plunge in finance income in its recent financial year, which together more than offset a surge in revenue.

IN BRIEF: Hipgnosis Songs Fund adds Harwood founder Mills to board

Hipgnosis Songs Fund Ltd - London-based music intellectual property rights investor - Hires Christopher Mills, the founder of Harwood Capital Management and co-founder JO Hambro Capital Management, as an independent non-executive director, starting Friday. Mills currently is chief executive officer and investment manager of North Atlantic Smaller Cos Investment Trust PLC, and is on the boards of MJ Gleeson PLC, AssetCo PLC, and Oryx International Growth Fund Ltd. Mills holds no shares in Hipgnosis.

Princess Private Equity appoints Peter McKellar as non-executive chair

(Alliance News) - Princess Private Equity Holding Ltd on Monday said Peter McKellar will join the company as non-executive chair from November 23.

AssetCo agrees to transfer interest in RMI to its managing partner

(Sharecast News) - AssetCo and its fully-owned subsidiary River & Mercantile Holdings announced an agreement on Friday to transfer its corporate partnership interest in River and Mercantile Infrastructure Income Fund's investment adviser, RMI, to a partnership within RMI helmed by managing partner Ian Berry.

AssetCo to sell stake in River & Mercantile Infrastructure for GBP1

(Alliance News) - AssetCo PLC, and its wholly-owned subsidiary River & Mercantile Holdings Ltd, on Friday announced they have reached an agreement in principle to sell their interest in River & Mercantile Infrastructure LLP.

AssetCo buys Ocean Dial for 1.5 million shares and GBP2.5 million cash

(Alliance News) - AssetCo PLC on Monday said that it has bought Ocean Dial Asset Management Ltd from Avendus Capital Asset Management (UK) Ltd, following clearances from regulators.

AssetCo acquires Ocean Dial Asset Management

(Sharecast News) - Wealth management firm AssetCo has now acquired Ocean Dial Asset Management from Avendus Capital following confirmation of relevant clearances from the FCA and Indian regulators.

IN BRIEF: AssetCo sells its 70% interest in Rize ETF; hails Parmenion

AssetCo PLC - London-based asset management fund - Sells 70% stake in specialist thematic ETF issuer Rize ETF Ltd to ARK Invest LLC for an upfront payment of GBP2.6 million, a deferred payment of GBP2.6 million and an earn out provision, capped at GBP5.3 million, which will operate over 5 years. "The sale agreement accelerates the delivery of the potential of this fundamentally attractive business. Rize will become the hub for ARK's expansion into Europe and AssetCo is delighted to be aligned with ARK's and Rize's future success, both through the mechanism of the earn out agreement and the on-going ETF partnership," AssetCo says. Further, notes media reports about the value of its 30% equity interest in Parmenion that it bought for GBP20.6 million in October 2021. Parmenion "has traded strongly in terms of assets under management," AssetCo says. Adds that its equity interest in Parmenion has a current value of between GBP75 million and GBP90 million.

PRESS: Premier Miton Group held R&M deal talks with AssetCo

(Alliance News) - Premier Miton Group PLC held talks with AssetCo to acquire parts of the River & Mercantile business, though discussions stalled, Sky News reported on Wednesday.

AssetCo gets FCA go-ahead for Ocean Dial acquisition

(Sharecast News) - Asset and wealth manager AssetCo has received approval from the Financial Conduct Authority (FCA) for its change in control application, it announced on Tuesday, paving the way for its planned acquisition of Ocean Dial Asset Management from Avendus Capital Asset Management UK.

AssetCo notes UK FCA approval for GBP4.1 million acquisition

(Alliance News) - AssetCo PLC on Tuesday said the UK Financial Conduct Authority approved its planned GBP4.1 million acquisition of Ocean Dial Asset Management Ltd.

IN BRIEF: AssetCo says CEO to leave after "extremely demanding" period

AssetCo PLC - London-based asset management fund - Says Chief Executive Officer Campbell Fleming has decided to step down for personal reasons, effective June 30. Campbell oversaw AssetCo's formation, as well as multiple acquisitions. AssetCo will not replace Campbell directly; instead, Executive Chair Martin Gilbert and Chief Financial & Operating Officer Gary Marshall will assume its overall strategic direction and day-to-day operations, respectively. Alex Hoctor-Duncan, CEO of AssetCo's principal operating company and 2022 acquisition River & Mercantile Group PLC, also will continue taking on additional responsibilities.

AssetCo interim loss widens on added expenses; behind in asset growth

(Alliance News) - AssetCo PLC on Wednesday said its half year loss widened as expenses grew, but saw revenue multiply.