Business Update

RNS Number : 3979L

Braemar Group PLC

09 January 2009

 

Braemar Group plc ('Braemar' or 'the Company')

9 January 2009

Business Update

Braemar Group is pleased to report the following progress. 

Since reporting our first half results in November, Braemar Securities has launched a further Guernsey listed OEIC, the Braemar Student Accommodation Cell. This fund was listed on 12 December 2008, having exceeded the minimum required for listing, and has since seen its Net Asset Value per share rise by 21.9% by the end of December. Our third OEIC, the Braemar European Solar Parks Cell, has this week been given interim consent for listing by the Guernsey Financial Services Commission and will launch in the Spring. Braemar Securities plans to launch at least one further fund this year. All of the Braemar OEIC funds continue to be available for investment and we will report further on fundraising progress at the end of our financial year. 

Our property management division, Braemar Estates, remains stable and is trading in line with Directors' expectations. 

For further information please contact:-

Marc Duschenes, Chief Executive, Braemar Group plc               0161 929 4969

Martin Robinson, Chairman, Braemar Group plc                         0161 929 4969

Julie Serrage, Investor Relations, Braemar Group plc                  0161 929 4969

Alex Clarkson/Nick Cowles, Zeus Capital Limited                      0161 831 1512

 

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