| Fri 5 Mar 2010, 9:30 | | MSP - Mas Plc - Changes to Investment Advisor |
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MSP
MSP
MSP - Mas Plc - Changes to Investment Advisor
MAS PLC
Previously Mergon Property Holdings Limited
(Incorporated in the Isle of Man)
(Registration number 2893V)
(Registered as an external company in the Republic of South Africa)
(Registration number 2010/000338/10)
JSE Share code: MSP
SEDOL: B4LFGHO
ISIN: IM00B4LFGH00
("MAS" or "the Company")
CHANGES TO INVESTMENT ADVISOR
MAS wishes to announce a strategic change in the ownership structure of the
holding company of MAS Property Advisors Limited ("Masprop"), the Company`s
investment adviser.
Masprop is a wholly owned subsidiary of Exclusive Holdings Limited ("Exclusive
Holdings"). On 23 February 2010 the Sanlam Group, a listed South African
financial services firm, through its business unit Sanlam International
Investment Partnerships ("SIIP"), acquired a 33.3% interest in the
shareholding of Exclusive Holdings. This transaction is the result of a
strategic business partnership formed between the management of Exclusive
Holdings and SIIP.
SIIP has a stated strategic objective to expand its asset management
operations through acquisitions or investments in businesses where a strong
management ownership structure is retained. Hendrik Pfaff, Managing Director
of SIIP and Robert Roux, Chief Operating Officer of Sanlam Investment
Management will join the board of Exclusive Holdings. Hendrik Pfaff commented
on the transaction: "We have again aligned with partners that are experienced
specialists in a specific area and we are confident that this business will
create long term value for its investors and shareholders. Our partners
include principals of Mertech and Attventure, whose proven expertise in the
South African Atterbury Property Group has been extended to the UK. We look
forward to working with them to develop a range of direct property investment
management interests. Lukas Nakos is the MD of Exclusive and he has
substantial experience in the UK and European property investment market,
particularly in identifying and acquiring prime commercial properties."
MAS believes that this transaction will have a significant impact on Exclusive
Holdings and Masprop. The opportunity for Exclusive and Masprop to partner
with such a well regarded global investment organisation will enhance their
capabilities as they will benefit from SIIP`s expertise and capabilities in
areas such as distribution channels, governance, business strategy input,
capital management and leveraging service provider relationships. This
influence will directly affect the impact that Masprop will have on MAS,
thereby improving the Company`s business prospects and ultimately benefiting
its shareholders.
MAS is currently underway with a second capital raising by way of a private
placement of shares. The offer opened at 09:00 (CET) on 22 February 2010 and
will close at 12:00 (CET) on 31 March 2010. The full details, terms and
conditions of the private placing are contained in the prospectus issued by
the Company, which will be made available to existing Shareholders and select
institutions, high net worth individuals and business associates, in South
Africa, Europe and the Isle of Man.
Ends
For further information:
MAS plc, MAS Property Advisors Limited and Exclusive Holdings Limited
Lukas Nakos
T +44 (0)1624 625 000
Sanlam International Investment Partners
Hendrik Pfaff
T +27 (0)21 950 4634
Note to editors:
About Sanlam International Investment Partners (SIIP)
SIIP is a division of the Sanlam Group (founded 1918), a listed South Africa
financial services group with a market capitalisation of US$6bn. The group has
investment management capabilities in Southern Africa, the UK, Asia and India.
SIIP has a strategic objective to expand the group`s asset management
footprint through direct investment in carefully selected specialist
investment management businesses in specific regions. An important criterion
is the retention of a strong management ownership structure that allows its
investment partners the required autonomy to continue to drive their
businesses and investment performance delivery. SIIP is fully aligned to its
partners in whom it has a shareholding, and will assist and support in any
area where it can add value or enhance the current proposition
About Exclusive Holdings
Exclusive Holdings is an international joint venture to form a new Isle of Man-
based property investment advisory and management business. Exclusive Holdings
is an incorporated venture between the Sanlam Group, the Mertech and
Attventure Groups in South Africa and Salt Properties Limited in the Isle of
Man. Exclusive will focus on commercial property investment advisory
mandates in Europe, initially in the UK, Switzerland and Germany. The joint
venture operates via its wholly owned subsidiary, MAS Property Advisors
Limited, which is the investment adviser to MAS plc. Exclusive Holdings and
MAS Property Advisors Limited is headed up by managing director, Lukas Nakos,
a property expert with extensive experience in the UK and European property
investment markets.
About MAS plc
MAS has been established to invest primarily in the high quality office,
retail, industrial and other property sectors initially in the UK, Germany and
Switzerland. The Company`s objective is to provide shareholders with an
opportunity to invest in a long term closed-ended investment company with an
infinite life for investors seeking European investment opportunities that
yield stable returns and portfolio diversification. The Company is
established in the Isle of Man and is listed on the EURO-MTF market of the
Luxembourg Stock Exchange (primary listing) and on the Altx of the
Johannesburg Stock Exchange (secondary listing).
For more information on the Company, please visit: www.masplc.com.
Isle of Man
5 March 2010
Luxembourg Legal Adviser
M Partners
Sponsor
PSG Capital (Pty) Limited
Date: 05/03/2010 09:30:02 Produced by the JSE SENS Department.
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