Sale of Investment Manager
02 Octubre 2009 - 1:01AM
UK Regulatory
TIDMADD
Purchase of Progressive Developing Markets Ltd by Rassmal Investments
LLC.
Rassmal Investments LLC, an investment company based in Dubai, has
acquired the entire share capital of Progressive Developing Markets
Limited ("PDML"), the Investment Manager of Advance Developing
Markets Trust plc, from Progressive Asset Management Limited ("PAML")
and the directors of PDML.
The investment management team of PDML remains unchanged. PDML will
continue to utilise the administrative, secretarial, compliance and
information technology services of Cavendish Administration Limited.
PDML will, for the time being, continue to trade under the name
"Progressive Developing Markets Limited".
The Board of Advance Developing Markets Trust plc has given its
consent to the change of ownership of PDML.
Enquiries:
Progressive Developing Markets Limited (Investment Manager to Advance
Developing Markets Trust plc)
Dr Slim Feriani Tel: +44 (0)20 7566 5520
Email: slim.feriani@pro-asset.com
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