LONDON (Dow Jones)--F&C Asset Management PLC (FCAM.LN), an asset management company announced Wednesday, its F&C Investment Business Limited, a wholly-owned subsidiary, has received notice from the Board of FCPT of the termination of its contract to manage FCPT. MAIN FACTS: -The notice period is six months. -F&C REIT has been seeking to develop an alternative proposal with the Board of FCPT which would benefit all shareholders in the company, and will continue to do so. -The company's proposal would provide a significant reduction in the company's total expense ratio; continuity of asset management, including the retention of Richard Kirby as lead manager; and it would preserve investor choice between two distinct, large and liquid vehicles. -Shares at 1009 GMT up 0.45 pence, or 0.45%, at 52.75 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; zechariah.hemans@dowjones.com (END) Dow Jones Newswires June 09, 2010 06:11 ET (10:11 GMT)