Wednesday May 14, 09:10 AM
Absolute Capital Management sees Argo listed on AIM within 6 months of demerger
LONDON (Thomson Financial) - Fund management company Absolute Capital Management Holdings Ltd. (ACMH) said it plans to demerge its Argo business into an independent entity called Argo Group Ltd.
ACMH said it expects to see Argo listed on the Alternative Investment Markets with six months of the demerger and said it will seek approval from shareholders for the demerger at its forthcoming extraordinary general meeting on June 13.
The company said existing ACMH shareholders will hold the same number of shares in Argo after the demerger.
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