For immediate release:
Syndicate Asset Management Plc
("Syndicate", the "Company" or the "Group")
Results of AGM and GM
The Directors of Syndicate Asset Management Plc (AIM: SAM), the fund management
group with approximately £6.2 billion under management, are pleased to announce
that, at the Annual General Meeting held earlier today, all resolutions were
duly passed by Shareholders.
The Directors of the Company further announce that at the General Meeting in
connection with the proposed Placing and Open Offer also held today, all
resolutions were duly passed by Shareholders.
The Directors of the Company also announce that Syndicate has received take-up
from Qualifying Shareholders in respect of 416,210,262 New Ordinary Shares,
representing approximately 64.3 per cent. of the New Ordinary Shares available
under the Open Offer.
231,497,386 New Ordinary Shares not taken up by Qualifying Shareholders under
the Open Offer will be taken up by Placees under the terms of the Placing
Agreement.
It is anticipated that the 500,000,000 new ordinary shares of 0.2 pence each
("Ordinary Shares") issued at 1.5 pence each pursuant to the Placing and the
647,707,648 new Ordinary Shares issued at 1.5 pence each pursuant to the Open
Offer are expected to be admitted to trading on AIM at 8:00 a.m. on 30 October
2009 and will rank pari passu in all respects with the existing Ordinary Shares
in issue.
The enlarged issued share capital of the Company following the Placing and Open
Offer will be 1,804,015,296 Ordinary Shares.
Except for words and phrases specifically defined in this announcement,
capitalised words and phrases shall bear the same meaning given to them in the
Prospectus.
-Ends-
Further information:
Syndicate Asset Management plc
Jonathan Freeman (Group CEO) Tel: 020 7659 8060
Cenkos Securities plc
Stephen Keys/Julian Morse Tel: 020 7397 8900
GTH Communications
Toby Hall/Christian Pickel Tel: 020 7153 8039