Tatton Asset Management PLC Acquisition of Sinfonia Asset Management Limited
October 17 2019 - 2:00AM
RNS Non-Regulatory
TIDMTAM
Tatton Asset Management PLC
17 October 2019
17 October 2019
None of the information contained in this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014, nor does it contain
any information that is required to be announced via a Regulatory
Information Service under the AIM Rules for Companies.
Tatton Asset Management plc (or the 'Group')
Acquisition of Sinfonia Asset Management Limited (SAM)
Tatton Asset Management plc (AIM: TAM), the on-platform
discretionary fund management (DFM) and IFA support services
business, is pleased to announce the recent acquisition of the
entire issued share capital of Sinfonia Asset Management Limited
(SAM), a wholly owned subsidiary of the Tenet Group (Tenet) for up
to GBP2.7 million.
Background to the transaction
The growth of our AUM is at the core of Tatton's strategy. To
achieve this, we will continue to develop our centralised
investment proposition while enhancing and evolving our product
offerings for our firms' advisers and their clients, both
organically and through acquisition. In line with this, SAM was
identified as providing a good strategic fit and comprises five
risk-targeted funds with a total AUM of GBP135 million. These five
additional funds will complement TAM's existing fund range and give
IFAs' clients further access to a range of investments balanced to
reflect a particular risk profile.
Financial impacts
The consideration of up to GBP2.7 million will be satisfied out
of existing cash resources. GBP2.0 million was payable on
completion with the remaining balance payable against specific AUM
targets in two equal instalments at the end of years one and two
post completion. Further details of the financial impacts will be
set out at the time of our Interim Results in November.
Commenting on the transaction Paul Hogarth, Founder and CEO of
Tatton Asset Management plc, said:
"Following the strategic partnership agreement with the Tenet
Group which we announced in June of this year, we are delighted to
have acquired the Sinfonia range of funds from Tenet. The
acquisition of these funds continues to strengthen our relationship
with Tenet and complements our current portfolio range of
investments which both broadens our proposition to the wider
investment community and contributed to the Group reaching the GBP7
billion AUM milestone."
Enquiries:
Tatton Asset Management plc
Paul Hogarth (Chief Executive Officer) +44 (0) 161 486 3441
Paul Edwards (Chief Financial Officer)
Lothar Mentel (Chief Investment Officer)
Zeus Capital - Nomad and Broker
Martin Green (Corporate Finance) +44 (0) 20 3829 5000
Dan Bate (Corporate Finance and QE)
Pippa Hamnett (Corporate Finance)
Media Enquiries
Roddi Vaughan-Thomas +44 (0) 20 7190 2952
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END
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