Completion of Acquisition of HIM Capital

RNS Number : 0437T

Polar Capital Holdings PLC

21 September 2010

 

21 September 2010

 

Polar Capital Announces Completion of Acquisition of HIM Capital Holdings

 

Further to its announcement of 15 September 2010, Polar Capital Holdings plc ("Polar Capital" or the "Group") announces that it has completed the acquisition of HIM Capital Holdings Limited ("HIM"), the specialist fund manager with an established track record of managing financial funds, with approximately $240 million of assets under management (the "Acquisition").

 

Under the terms of the Acquisition, certain of the shareholders of HIM have agreed to re-invest a proportion of the Acquisition proceeds by subscribing for 706,803 ordinary shares of 2.5p each in Polar Capital (the "New Ordinary Shares"). Consequently, application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. The New Ordinary Shares will rank pari passu in all respects with the Group's existing shares in issue and dealings in the new Ordinary Shares are expected to commence on 22 September 2010.

 

-Ends-

 

For further information please contact:

 

Polar Capital

Tim Woolley (CEO) / John Mansell (CFO)

+44 (0)20 7227 2700

 

Numis Securities

Simon Blank (Nominated Adviser) / Charles Farquhar (Corporate Broking)

+44 (0)20 7260 1000

 

Financial Dynamics

Ed Gascoigne-Pees / Georgina Turner

+44 (0)20 7269 7132 / 0 7269 7136

 

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