LONDON, UK: AssetCo, a UK-based asset management company, has announced the sale of its 70% stake in Rize, a thematic ETF specialist, to ARK Invest, a US-based ETF provider. The deal will give AssetCo an up-front payment of £2.625m, a deferred payment of £2.625m and an earn out provision of up to £5.25m over five…
LONDON, UK: AssetCo Plc announced Campbell Fleming will be joining the board of directors and take up the role of Chief Executive Officer with effect from 2 October 2021. In the Readmission circular sent to Shareholders on 26 March 2021 it was explained that Peter McKellar would become Deputy Chairman and Chief Executive Officer of…
LONDON, UK: AssetCo Plc has reached agreement to acquire an effective 63 per cent equity interest in Rize ETF for £16.5 million, which will be paid in cash, a news release said. AssetCo is also committing a further investment to Rize ETF of £5.25 million to help fund the growth of the business. The equity…
LONDON: AssetCo Plc (LON: ASTO) has reached agreement to acquire the entire issued share capital of Saracen Fund Managers Limited for an effective total consideration of £2.75 million. The Consideration will be satisfied by the issue of 166,904 new ordinary shares of 10p each in the Company, fully paid and £664,774 in cash, in each…
LONDON: AssetCo plc announced that Martin Gilbert, Peter McKellar, various associates and funds managed by Toscafund Asset Management, a multi asset fund manager, have, in aggregate, acquired a minority stake of 29.8% of the issued share capital of the Company at 475 pence per share, which is approximately the estimated net asset value per share,…