Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
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  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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Ashmore Group Plc (ASHM)

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Wednesday 01 June, 2011

Ashmore Group Plc

Completion of Acquisition

RNS Number : 6162H
Ashmore Group PLC
01 June 2011

Ashmore Group plc

1 June 2011



Completion of acquisition of a majority interest in Emerging Markets Management, L.L.C.



Further to the announcement on 24 February 2011, Ashmore Group plc ("Ashmore") is pleased to announce that it has completed the acquisition of a majority stake (62.9 per cent) in Emerging Markets Management, L.L.C. ("EMM") (the "Acquisition").


Commenting on the Acquisition, Mark Coombs, Ashmore's Chief Executive Officer, said:


"We are very pleased with the strong level of support that we have received from EMM's investors and from our shareholders, both of whom recognise the compelling strategic fit between the two firms." 


As at 31 May 2011, EMM had estimated assets under management of approximately US$9.7 billion. In accordance with the terms of the Acquisition, the initial consideration at completion of the Acquisition ("Completion") was subject to an adjustment mechanism. The total consideration for the Acquisition remains US$246 million:


§ Reduction in initial consideration of US$19.0 million to US$81.5 million payable in cash on Completion and US$25.4 million in new ordinary Ashmore shares, or approximately 4.4 million shares, which will be restricted from sale for a period of up to three years post-Completion; and

§ Increase of US$19.0 million in the earn-out consideration to a maximum of US$139.1 million payable in three annual instalments based on the achievement of certain financial targets over the three years following Completion. Earn-out consideration will be payable in a combination of cash and new Ashmore ordinary shares at the prevailing market price, such combination to be determined at Ashmore's discretion.


Admission to listing on the Official List of the UKLA and to trading on the London Stock Exchange's main market for listed securities of the 4,359,437 new Ashmore shares issued in relation to the Acquisition is expected to occur with effect from 8:00 a.m. London time today.


For further information, please contact:


Ashmore Group plc

Ashmore Group plc                                         +44 (0)20 3077 6000

Graeme Dell, Group Finance Director           


MHP Communications        

Gay Collins                                                      +44 (0)20 3128 8582/+44(0)7798626282

Jennifer Spivey                                                +44 (0)20 3128 8534



Further information can be found at





(1) EMM AuM prepared on the basis of reconciled assets under management, adjusted to include the effect of all notified asset flows as at the specified date.

(2) Following Completion, the total number of Ashmore shares in issue for the purposes of disclosures required to be made pursuant to the Financial Services Authority Disclosure and Transparency Rules (DTR's) is 707,916,106.


Principal accounting impacts


(a) One-off transaction-related costs are estimated at approximately £3 million and will be recognised during the current financial year.

(b) Consolidation into Ashmore's accounts will take effect from today and the EMM financials will be included in the results to 30 June 2011.

(c) Further information will be provided at the time of Ashmore's year end results in September, including details on the non-cash annual amortisation expense related to the acquired intangible assets and the profile of the future unwind of the discount on the contingent consideration.





This information is provided by RNS
The company news service from the London Stock Exchange