Sign In
3 Oct 2014 07:00
ο»Ώ
03 October 2014
Β
Β
Miton Group plc
Β
Loss of institutional client mandate
Β
Miton Group plc ("Miton"), the AIM quoted fund management group, today announces that following the announcement of the retirement of Bill Mott an institutional client has decided to terminate a UK equity income mandate run by the Group with effect from November 2014. Miton estimates this will reduce Group net revenues by Β£1.1m for the year ended 31 December 2015. At 1 October 2014 this mandate amounted to Β£325.6m of assets under management.
Β
The terms of the Sale and Purchase Agreement dated 3 July 2013 for the acquisition of PSigma Asset Management Holdings Limited and subsidiaries required a final deferred consideration payment of up to Β£3.75m to be payable after July 2015. In light of the above announcement it is unlikely any further payment under this agreement will be required.
Β
Β
ENDS
For further information, please contact:
Β
Miton Group plc
Gervais Williams (Managing Director) 07811 331824
Robert Clarke (Finance Director) 07766 688983
Roger Bennett (Company Secretary) 07971 828101
Β
MHP Communications miton@mhpc.com
Gay Collins / Reg Hoare / Simon Hockridge 020 3128 8100
Β
Peel Hunt (Nominated adviser and Broker) Β
Guy Wiehahn 020 7418 8893
Β
www.mitongroup.com
Β
Β
Β
Β
Β
Follow the stocks
