16 Nov 2017 07:00
Arden Partners plc
("Arden" or the "Company")
Update on the Trading Team
Arden announces that it is in discussions with MCP Advisers LLP ("MCP"), the entity through which Arden retains a sales trading team to execute institutional order flow (the "Trading Team"), to bring the Trading Team in house as employees of the Company.
As part of these discussions, notice has been served on MCP to terminate the current contractual arrangements. As a result, both tranches of options over Arden ordinary 10p shares awarded to MCP (as announced on 1 February 2017) have lapsed.
Arden's Chief Executive Officer, Donald Brown, commented:
"We are pleased with the performance of the Trading Team and wish to continue our relationship with them. However, we also believe that it is now more appropriate for our trading function to be a wholly integral part of the business."
For further information, please contact:
Arden Partners plc Donald Brown (Chief Executive Officer) Stephen Wassell (Company Secretary)
| Tel: +44 (0) 20 7614 5900 |
GCA Altium Limited (NOMAD) Sam Fuller / Tim Richardson
| Tel: +44 (0) 20 7484 4040 |