New Management Arrangements
September 24 2009 - 5:56AM
UK Regulatory
TIDMLCSS
Lewis Charles Sofia Property Fund Limited (the "Company")
New Management Arrangements
Following the announcement on 31 March 2009 that the Company had served notice
on Lewis Charles Securities Limited ("Lewis Charles") terminating the Management
Agreement dated 20 September 2005 between Lewis Charles and the Company, the
Directors of the Company are pleased to announce that they have made
arrangements to internalise the future management operations of the Company from
1 October 2009 when the existing agreement terminates.
Under the new arrangements the Company will directly employ a management team
and a management fee will no longer be payable to an external party. The Company
expects that the running costs of the Company will be significantly reduced as a
result of these new arrangements.
Further announcements will be made as appropriate.
For further information contact:
Lewis Charles Sofia Property Fund Limited
Charles Burton
Panmure Gordon (UK) Limited
Dominic Morley
Stuart Gledhill
Tel: +44 (0) 20 7459 3600
Conduit PR Ltd
Ed Portman
Leesa Peters
Tel: +44 (0) 20 7429 6607 / +44 (0) 77 3336 3501
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