Camellia PLC Update on Duncan Lawrie (0453D)

TIDMCAM

RNS Number : 0453D

Camellia PLC

21 April 2017

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 GBP28.0 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 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 21, 2017 12:03 ET (16:03 GMT)