Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPam.l Share News (PAM)

  • There is currently no data for PAM

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Miton Group Agrees Combination With Peer Premier Asset Management

Wed, 4th Sep 2019 10:00

(Alliance News) - Premier Asset Management Group PLC and Miton Group PLC have agreed a merger, Premier AM said Wednesday, creating a business with assets of over GBP11 billion.

Under the terms of the deal, Miton shareholders will get 0.30186 Premier AM shares per Miton share. Based on a closing price on Wednesday in London for Premier AM of 171.75p, this values Miton at 56.74p.

However, Miton shareholders would also get a special dividend of 4.9p per share.

Miton shares were 25% higher on Wednesday morning at 51.39p, with Premier AM down 1.0% at 170p.

Following the merger, Miton shareholders would own around 33% of the new business, which will continue to trade on London's AIM as Premier Miton Group PLC.

Premier AM Chief Executive Mike O'Shea said: "This merger will bring together two complementary and culturally-aligned businesses. Both are focused on delivering added value for clients through actively-managed, strongly-performing and relevant investment products.

"The combined group will create a company with greater scale and financial strength to invest for future growth, with broader and deeper investment capabilities, enhanced distribution and a more efficient operating platform. Ultimately, this should position us well for continued growth and deliver value for clients, shareholders and employees."

His counterpart at Miton, David Barron, added: "Miton's expertise in actively managed, differentiated high conviction funds is a very strong complement to Premier's leading position in multi-asset strategies.

"With limited overlap between the two businesses, this merger will result in the ability to offer our clients a broader and more compelling range of investment solutions."

The combined business would have combined assets under management of GBP11.5 billion, as of the end of June.

Premier AM Chair Mike Vogel and CEO O'Shea would have the same roles in the combined company. Miton Chief Operating Officer Piers Harrison would become chief financial officer.

Miton CEO Barron would become a non-executive director.

More News

Premier Asset Management Gains Court Sanction For Miton Merger

Premier Asset Management Gains Court Sanction For Miton Merger

14 Nov 19 12:15

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

6 Nov 19 16:29

Premier Asset Management Gets UK regulatory Approval For Miton Merger

Premier Asset Management Gets UK regulatory Approval For Miton Merger

24 Oct 19 18:17

Premier Asset Management Sees Drop In Assets On Uncertain Market

Premier Asset Management Sees Drop In Assets On Uncertain Market

10 Oct 19 10:35

Premier Asset Management's inflows streak snaps

(Sharecast News) - Retail asset manager Premier Asset Management snapped its long-running streak of inflows in the fourth quarter of 2019 as assets under management decreased slightly during the period.

10 Oct 19 08:07

Miton Group And Premier Asset Management Merger Edges Closer

Miton Group And Premier Asset Management Merger Edges Closer

9 Oct 19 14:42

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

2 Oct 19 16:08

Miton Group Ends Half With Increased Assets; Excited For Merger

(Alliance News) - Miton Group PLC on Monday reported a rise in interim funds under management, boosted by market movements and despite modest outflows.At June 30, the fund manager reported

23 Sep 19 09:57

WINNERS & LOSERS SUMMARY: Miton Group Rises On Merger With Rival

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - WINNERS----------Prudential,

4 Sep 19 10:43

Miton Group Agrees Combination With Peer Premier Asset Management

(Alliance News) - Premier Asset Management Group PLC and Miton Group PLC have agreed a merger, Premier AM said Wednesday, creating a business with assets of over GBP11 billion.Under the of

4 Sep 19 10:00

PRESS: Honeycomb, P2P End Merger Talks Amid Woodford Exposure Worries

(Alliance News) - Honeycomb Investment Trust PLC and P2P Global Investments PLC have ended talks of a GBP1 billion merger amid concerns about the exposure of the combined firm to troubled fund Sky

16 Aug 19 18:00

Challenging Headwinds Hurts Premier Asset Management Performance

(Alliance News) - Premier Asset Management Group PLC on Tuesday said continued challenging conditions for the investment industry, including record low fund inflows, have led to a decline in under

9 Jul 19 10:21

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 3 July J SainsburyQ1 ResultsBraemar Shipping ServicesTrading TilesQ3 4

2 Jul 19 15:58

Tuesday broker round-up

(Sharecast News) - NewRiver: Berenberg downgrades to hold with a target price of 248p.

4 Jun 19 13:55

Premier Asset Management Assets End Half Lower As Retail Sector Hurts

LONDON (Alliance News) - Premier Asset Management Group PLC said Thursday its assets under management closed the first half lower as it struggled in the "challenging" UK retail March 31,

23 May 19 11:09
12

Login to your account

Don't have an account? Click here to register.