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RDL Realisation PLC - Change of AIFM and intention to delist

Wed 25th November, 2020 7:00am
RNS Number : 3857G
RDL Realisation PLC
25 November 2020
 

25 November 2020

RDL Realisation PLC (the "Company")

Change of AIFM and intention to propose a resolution to delist

As previously announced by the Company and pursuant to the Company's ultimate objective of effecting a managed wind down of its portfolio with a view to realising all of its investments, the Board continues to work with the management teams of each of the remaining platforms through which it has invested. The Board is also focused on reducing the ongoing running costs being incurred by the Company. 

In connection with the Board's efforts to minimise the running costs of the Company, it has yesterday served notice on the Company's Alternative Investment Fund Manager ("AIFM"), International Fund Management Limited ("IFM"), and has notified the FCA that it intends for the Company to become a small registered AIFM which is self-managed, thereby saving the Company external management fees going forward. These changes are expected to come into effect on 24 February 2021 on the expiry of the notice period prescribed in the Company's agreement with IFM. The Board would like to thank IFM for its services over the last two years as the Company has worked on realising its portfolio.

The Board would also like to take this opportunity to notify shareholders that it intends to convene a general meeting in early 2021 at which a special resolution will be proposed to cancel the listing of the Company's ordinary shares from the premium segment of the Official List of the Financial Conduct Authority and from trading on the Main Market of the London Stock Exchange plc ("De-listing"). The De-listing is expected to result in further cost savings for shareholders as the remainder of the portfolio runs off or is realised. Further details will be set out in a circular to be published by the Company in due course.

For further information, please contact:

Link Company Matters Limited

Secretary

 

+44 (0)1392 477 571




 

LEI: 549300VGZSKYQ7C2U221

 

 

 

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