Source - RNS
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 £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




 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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