(Alliance News) - Premier Asset Management Group PLC said Thursday its merger with peer Miton Group PLC has been granted a court sanction, which marks the fulfilment of all conditions.
This transaction, which would create a business with assets of over GBP11 billion, was first announced in mid-September.
Miton's shares have been suspended on Thursday, and will be cancelled on Friday.
As a result of the merger, Premier Asset Management has appointed Miton Chief Operating Officer Piers Harrison as finance director and Miton Non-Executive Director Katrina Hart to the same role at Premier, with immediate effect.
They will replace Non-Executive Directors Luke Wiseman and Neil Macpherson, who have resigned.
Shares in Premier AM - which is headquartered in Surrey - were down 0.6% at 180.00 pence on Thursday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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