21 Apr 2017 17:03
Camellia Plc
Update on the sale of Duncan Lawrie Asset Management
As announced on 19 December 2016, Duncan Lawrie entered into an agreement, subject to regulatory approval, to sell Duncan Lawrie Asset Management to Brewin Dolphin Limited, a subsidiary of Brewin Dolphin Holdings Plc, for a cash consideration of £28.0 million.
Camellia is pleased to confirm that the Financial Conduct Authority ("FCA") has given regulatory approval for the change of control envisaged by the transaction.
The transaction remains subject only to FCA approval of a number of controlled functions, including the new board of directors, and is expected to complete in May 2017 in accordance with the timeframe outlined in the approved change of control submission.
This announcement contains inside information for the purpose of Article 7 of the Market Abuse Regulation (EU) N0. 596/2014.
Enquiries
Camellia Plc | 01622 746655 |
Tom Franks, CEO | |
Susan Walker, CFO | |
Panmure Gordon | 020 7886 2500 |
Nominated Adviser and Broker | |
Andrew Godber | |
Erik Anderson | |
James Greenwood | |
Camellia (CAM)