Related Party Transaction

RNS Number : 9476A

Fiske PLC

16 October 2009

 



Fiske Plc ('Fiske' or 'the Company')

Related Party Transaction

Fiske Plc (the 'Company') announces that it received service fees during the financial years ending 31 May 2007, 2008 and 2009 from The Investment Company Plc ("TIC"). These constitute related party transactions under Rule 13 of the AIM Rules for companies as TIC is a substantial shareholder in Fiske following an acquisition of shares which was notified to the market on 14 March 2007.

The fees received were as follows:

    £111,000 for year ending May 2007.

    £111,000 for year ending May 2008.

    £114,000 for year ending May 2009.

The directors of Fiske, with the exception of Mr. Stephen Cockburn who is a director of TIC, have consulted with the Company's nominated adviser Grant Thornton and consider that the terms of the service arrangements are fair and reasonable and in the interests of Fiske's shareholders. 

It should be noted that the abovementioned fees were duly stated in the company's annual Report & Accounts.

For further information please contact:

  • Gerard Luchini, Fiske Plc - Company Secretary

  (tel: [phone])

  • Gerry Beaney/ David Hignell, Grant Thornton UK LLP (Nominated Adviser)

  (tel: [phone])

 

END

 

 

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