Brief: Great Elm Capital Group enters into agreement to establish operating and governance independence

Great Elm

18/09/2017 23:13

Sept 18 (Reuters) - Great Elm Capital Group Inc  GEC.O  
    * Great Elm Capital Group, Inc. enters into agreement to 
establish operating and governance independence 
    * Great Elm Capital Group Inc - names Peter Reed CEO of 
Great Elm Capital Group 
    * Great Elm Capital Group Inc - As part of agreements, Mast 
and their respective affiliates entered into a standstill and 
voting agreement 
    * Great Elm Capital Group Inc - Now fully separate from 
mast, Great Elm executed a cost reduction program for its 
investment management team 
    * Great Elm Capital Group- As part of the agreement will no 
longer provide services to mast 
    * Great Elm Capital Group - great Elm, Mast, Northern Right 
entered into agreements that facilitate co's transition to an 
independent operating entity 
    * Great Elm Capital Group Inc - Principal of note issued by 
a Great Elm subsidiary to mast was reduced by $7.3 million 
    * Great Elm Capital Group Inc - great Elm, Mast, Northern 
Right terminated their cost sharing agreement 
    * Great Elm Capital Group Inc - Jeffrey Serota was elected 
chairman of Great Elm's board of directors 
    * Great Elm Capital Group Inc - As part of transaction, 
Mast has right to purchase from Great Elm an additional 420,000 
shares of Great Elm common stock 
 
Source text for Eikon:  ID:nGNXOEIGXa  
Further company coverage:  GEC.O  
 
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