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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Assetco Plc | LSE:ASTO | London | Ordinary Share | GB00BQ2K3557 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 33.00 | 32.00 | 34.00 | 34.00 | 33.00 | 33.00 | 59,846 | 08:00:12 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Offices-holdng Companies,nec | 8.18M | -8.44M | -1.0018 | -0.33 | 2.78M |
TIDMASTO
RNS Number : 2321O
AssetCo PLC
08 February 2021
8 February 2021
AssetCo plc
("AssetCo" or the "Company")
Further Acquisition of a stake in River and Mercantile Group Plc and
Update on Strategy
AssetCo plc announces that on 5 February it acquired an additional 2,500,000 ordinary shares in River and Mercantile Group Plc (the "Investment"), an asset management business, at GBP2.28 per share representing a premium of 2.2 per cent to the closing share price of GBP2.23 on 4 February 2021, the last practical date prior to the Investment. The consideration for the Investment totalling GBP5.7 million is being paid out of cash. AssetCo now holds in aggregate 5,000,000 ordinary shares in River and Mercantile Group Plc representing 5.85 per cent of the issued share capital of River and Mercantile Group Plc.
Update on Strategy
The Board now intends to change its business strategy to the development of an asset and wealth management business. As a result, this will be a fundamental change of business and the Company will effect a readmission of its shares pursuant to AIM Rule 14. The Board is committed to completing the readmission process within three months and will provide further updates to shareholders in due course.
Enquiries:
AssetCo plc
Tudor Davies, Chairman
Tel: +44 (0) 7785 703523
+44 (0) 20 7614 5900
Arden Partners plc
Nominated adviser and broker
John Llewellyn-Lloyd / Dan Gee-Summons / Nick Wright
Tel: +44 (0) 20 7614 5900
TooleyStreet Communications
Fiona Tooley
Email: fiona@tooleystreet.com
Mobile: +44 (0) 7785 703523
maitland/amo
Neil Bennett
Rachel Cohen
Tel: +44 (207) 379 5151
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END
STRUNRURAWUURUR
(END) Dow Jones Newswires
February 08, 2021 02:00 ET (07:00 GMT)
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