press releases 2007 archive
08 June 2007
Issue of Ordinary Shares
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05 June 2007
Shareholding Announcement
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01 June 2007
Total Voting Rights
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01 June 2007
Holding(s) in Company
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25 May 2007
Placing of Ordinary Shares
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Not for release, publication or distribution in, into or from Australia, Canada, Japan or the United States of America
INTEGRATED ASSET MANAGEMENT plc
Successfully raises £10.8 million through placing of 8 million shares
Integrated Asset Management plc (the "Company"), the alternative investment group, is pleased to announce that it has conditionally raised approximately £10.8 million (before expenses) by way of a placing at 135p per share (the "Placing Price"). The Company plans to use the net proceeds of the placing to:
- fund the acquisition of the remaining 49.9% of Attica Holdings (UK) Limited ("Attica"), the holding company of Integrated Alternative Investments Limited ("Integrated Alternative Investments"). Integrated Alternative Investments is a London-based provider of fund of hedge fund products, one of whose main clients is Sal. Oppenheim International SA. Following the initial acquisition of 50.1% of Attica by the Company, as announced on 15 May 2006, Sal Oppenheim International SA retained the remaining 49.9% of Attica which was subject to a call/put agreement;
- finance additional selected acquisitions to accelerate growth of the funds under the Company's management; and
- broaden the Company's shareholder base to include several new institutional investors.
The placing (the "Placing") comprises at total of 8,000,000 new ordinary shares of 5p each (the "Placing Shares") in the Company and is conditional, inter alia, upon admission of the Placing Shares to trading on the AIM market, a market operated by the London Stock Exchange plc ("AIM").
Application will be made to London Stock Exchange for the Placing Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective and dealings in the Placing Shares will commence at 8.00 a.m. on 30 May 2007.
The Placing Shares, which represent 24.9 per cent of the Company's issued share capital following the Admission, have been placed by Noble & Company with institutional and other investors at the Placing Price. The Placing Price represents a discount of 4.93 per cent to the mid-market closing price of the Company's shares of 142p on 24 May 2007. Following completion of the Placing, the Company will have 32,146,850 ordinary shares of 5p each in issue. The Company's market capitalisation following the Placing, at the Placing Price, is £43.4 million.
The Company's Board also announces that it is in preliminary discussions with a major global investment bank which is potentially interested in acquiring a shareholding of up to 10% in the Company. Such an investment would be in new ordinary shares of the Company. It is to be noted that there can be no certainty that these arrangements will be completed and that the Company will make further announcements as appropriate.
The Company is pleased to announce that as part of the Placing Sal. Oppenheim International SA has agreed to acquire 3,172,289 Placing Shares at the Placing Price. Following completion of the Placing, Sal. Oppenheim International SA will own 9,483,321 ordinary shares of 5p each in the Company, representing 29.5 per cent of the Company's issued share capital, as enlarged by the Placing.
In addition, certain directors of the Company have agreed to subscribe for the Placing Shares at the Placing Price. Details of these subscriptions and the relevant directors' shareholdings in the Company following completion of the Placing are as follows:
Director Placing Shares to be subscribed for Ordinary shares held following
completion of the Placing Percentage of the Company's issued share capital
following completion of the Placing
John Booth (Non Executive Chairman)
100,000 600,000 1.87%
Nicholas Levene (Non Executive Director) 300,000
1,620,000 5.04%
Mark Segall (Non Executive Director) 25,000 25,000 0.08%
Certain members of the Company's senior management team have also agreed to subscribe for 415,000 Placing Shares at the Placing Price. These shares represent 5.19 per cent of the Placing Shares.
The Placing Shares will once issued and fully paid, rank pari passu in all respects with the existing ordinary shares of 5p each of the Company.
Commenting, Emanuel Arbib, Chief Executive of the Company, said:
"We are delighted that investors have responded so positively to our business strategy and prospects. The proceeds of the Placing will enable us to further stimulate Integrated's organic growth as well as to fund the acquisition of the remaining 49.9% of Attica Holdings (UK) Limited that we do not already own. The cash resources raised will also provide the Company with additional capacity to pursue further acquisitions in the fund of funds arena."
For further information please contact:
Emanuel Arbib, Chief Executive Officer, Integrated Asset Management
plc
Tel: +44 (0)20 7514 0540 email: arbib@integratedam.com
Nora Ajzen, Investor Relations, Integrated Asset Management plc
Tel: +44
(0)20 7514 9228 email: n.ajzen@integratedai.com
Nick Naylor, Noble & Company Limited
Tel: +44 (0)20 7763 2200
Jeff Watt/John Moriarty/Stewart Harris, Weber Shandwick Financial
Tel: +44
(0)20 7067 0700 email:
jwatt@webershandwick.com
Note to Editors:
Integrated Asset Management plc
Integrated Asset Management plc is an
alternative investment group listed on the AIM market of the London Stock
Exchange under the symbol IAM. Integrated Asset Management's core businesses are
innovative fund management, alternative investment products and institutional
brokerage services for equity and fixed income. The Company currently has circa
US$1.5 billion of assets under management and advice, and maintains offices in 4
countries.
Acquisition of Attica Holdings (UK) Limited
As announced on 15 May 2006,
the agreement to acquire Attica Holdings (UK) Limited (the holding company of
Integrated Alternative Investments Limited) contains put and call options for
Sal. Oppenheim International SA to sell and Integrated Asset Management to buy
the balance of the issued shares of Attica Holdings (UK) Limited. The
consideration for the exercise of the put and call options is a maximum amount
of €8,450,000 payable through a combination of cash and further Ordinary Shares
of Integrated, subject to the fact that the combined consideration in shares
issued to Sal. Oppenheim International SA shall not result in them holding over
29.99% of the existing issued share capital of Integrated.
23 May 2007
Announcement re Change in indirect shareholding structure
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30 April 2007
Total Voting Rights
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23 April 2007
Results for the year ended 31 December 2006
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20 April 2007
Integrated Asset Management plc - TDR announcement
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17 April 2007
Issue of Ordinary Shares
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