11 June 2010
RIVINGTON STREET HOLDINGS PLC
PLUS: RIVP
("RSH" or "The Group")
Completion of Re-Domicile to the Isle of Man
The Board of RSH, the PLUS quoted media, market research and financial services
group is pleased to announce that its re-domicile to the Isle of Man has now
been finalised following the completion of the Scheme of Arrangement ("the
Scheme").
HIGHLIGHTS
* The introduction of a new Isle of Man company - New Rivington as the new
parent company of RSH;
* Shareholders receive one New Rivington Share in place of every existing RSH
Share held; and
* To match the increasing international focus of RSH, a new Board structure
is now in place with Jim Mellon becoming Non-Executive Chairman.
RSH's Chief Executive Officer Tom Winnifrith commented: "RSH continues to trade
strongly. We are actively working on a number of acquisition opportunities and
are also looking to invest in exciting internal growth opportunities across the
range of our businesses.
"I have never felt more confident about the prospects for RSH and I know Jim
Mellon shares this confidence. We cannot wait to take this business forward.
The new Board owns just under 29% of RSH's shares and both Jim and I have
bought more shares recently."
The Directors of the Issuer accept responsibility for this announcement.
--ENDS-
Enquiries
Rivington Street Holdings Plc
Tom Winnifrith, CEO 01624 676 848
Daniel Stewart & Company Plc
Paul Shackleton 020 7776 6550
Bishopsgate Communications
Nick Rome 020 7562 3350
Admission Details
The following security was admitted to trading on PLUS with effect from
07.00am, 11/06/2010.
Name of Issuer: Rivington Street Holdings plc
Ordinary Shares of 1p
ISIN: IM00B63XSG97
Symbol: RIVP
Description of Rivington Group
The Rivington Group is a media and financial services group whose business was
founded in 2004. The group holding Company, Rivington has been quoted on the
PLUS-quoted Market since November 2008. The Rivington Group provides a range of
services to over 100 companies quoted on AIM and PLUS. It operates and
generates revenues through 8 subsidiaries.
Background to the Scheme
Having carried out a strategic review of the Group's existing businesses and
key areas of opportunity, the Directors concluded that the asset management
business and the acquisition of other operating businesses offers the greatest
opportunity for the future profitable growth of the Group. It was the
considered view of the Directors that it is no longer in the best interests of
Rivington Shareholders for the parent company to be a UK-resident company.
Accordingly, the Board concluded that a new Isle of Man parent company should
be put in place.
In keeping with the relocation of the parent company to the Isle of Man, the
head office has now moved to the Isle of Man.
Additionally, to match the increasing international focus of the Group and
ensure that an appropriate board structure is in place the board of New
Rivington is as follows:
Jim Mellon Non-Executive Chairman
Thomas Winnifrith Chief Executive
Denham Eke Non-Executive Director
Michael Riddell Non-Executive Director
Summary of the Scheme
Under the Scheme, all the Scheme Shares have been cancelled. In consideration
for the cancellation, Scheme Shareholders have received:
for each Scheme Share cancelled one New Rivington Share
Following the cancellation of the Scheme Shares, the share capital of Rivington
has been increased to its former amount by the creation of the New Ordinary
Shares and the credit arising in the books of Rivington as a result of the
cancellation of the Scheme Shares have been applied in paying up in full, at
par, the New Ordinary Shares. The New Ordinary Shares have been issued to New
Rivington which, as a result, becomes the parent company of Rivington.
Effects of the Scheme
Under the Scheme, Scheme Shareholders have exchanged their shareholdings in
Rivington for an equivalent proportionate shareholding in New Rivington. Their
proportionate entitlement to participate in Rivington Group's capital and
income is not affected by reason of the implementation of the Scheme.
Following the Scheme becoming effective, New Rivington now owns no assets other
than the share capital of Rivington and nominal cash balances. Rivington
Shareholders will not receive any amount in cash, pursuant to the terms of the
Scheme.
Although general meetings of New Rivington will be held outside the UK
following the Scheme coming into effect, shareholders will still be able to
attend in person or vote by proxy at such meetings. It is intended that
shareholder information will continue to be communicated in the same way as
currently and the Group's website will remain as
www.rivingtonstreetholdings.com.
Directors of New Rivington
James Mellon - Non Executive Chairman
Jim Mellon, based in the Isle of Man, is a renowned fund manager. He began his
career with GT Management in the US and in Hong Kong and later became the
co-founder and managing director of Thornton Management (Asia) Limited based in
Hong Kong and was a director of Tyndall Holdings plc. He is co-founder of
Regent Pacific Group. He is currently co-chairman of Regent Pacific Group Ltd
and Emerging Metals Limited, a director of Charlemagne Capital Ltd, Polo
Resources Limited, Speymill Plc, Speymill Deutsche Immobilien Plc, Webis
Holdings plc, Manx Financial Group Plc, Burnbrae Group Limited and various
other investment companies.
Thomas Winnifrith - Chief Executive Officer
Tom is the founder of Rivington. He joined County NatWest WoodMac as a graduate
trainee in 1990 and subsequently worked for The Investors Chronicle, the London
Evening Standard, AFX News and UK-iNvest.com before setting up T1ps.com Limited
in 2000. He also presented the TV programme Show Me The Money and was the
founder editor of the Red Hot Penny Shares tipsheet. T1ps.com Limited evolved
through acquisitions to become the Rivington Group. Tom has and will work
directly within T1ps.com and T1ps Investment Management subsidiaries as well as
performing his main board role. During the development of Rivington Tom has
lead and managed the acquisitions within the Rivington portfolio including
Bishopsgate Communications, Sharecrazy.com and Rivington Street Corporate
Finance.
Denham Eke - Non Executive Director
Denham began his career in stock broking before moving into corporate planning
for a major UK insurance broker. He is a director of many years standing of
both public and private companies involved in the property, mining,
manufacturing and financial services sectors. He is currently Chairman of Webis
Holdings plc, CEO of Manx financial Group plc, CFO of Emerging Metals Limited,
a non-executive director of Speymill plc and ARBB AG, and Managing Director of
Burnbrae Group Ltd.
Michael Riddell, Non-Executive Director
Michael Riddell is the Managing Director of Greystone Trust Company Limited,
which he joined in May 2005. Mr Riddell moved to the Isle of Man in 2001 to
work for Walbrook Trustees. From 1995 to 2001, Mr Riddell worked in fund
administration and personal and corporate trust for the Royal Bank of Canada
and Bank of America in the Cayman Islands. Mr Riddell had previously been the
Controller of a Canadian bank, and worked for Ernst & Young from 1982 to 2001
in Canada, Saudi Arabia, and the Cayman Islands. Mr Riddell received his
Bachelor of Arts (Economics) from the University of Victoria in 1982 and
qualified as a Chartered Accountant in 1985.
The directorships of the New Directors currently held and held over the 5 years
preceding the date of this document (other than of New Rivington) are as
follows:
Director Current Directorships / Past Directorships / Partnerships
Partnerships
James Asian Opportunity Fund 1998 - Asian Opportunity Fund 1998 -
Series I Series II
Mellon
AstroEast.com (Hong Kong) Limited Bigsave Holdings plc
AstroEast.com Limited Bigsave UK Limited
Betinternet.com Ltd Clean Air Capital Limited
BFS Absolute Trust Limited Mago Resources (PTY) Limited
Burnbrae Charlottenburg GmbH Regent Markets Group Limited
Burnbrae Commercial GmbH Regent Markets Group Limited
Burnbrae Development GmbH Regent Markets Holdings Ltd.
Burnbrae Friedrichstein GmbH Titec BVI Ltd
Burnbrae Germany East GmbH UBQT Media
Burnbrae Germany GmbH Undervalued Assets Fund - Series
One
Burnbrae Germany North GmbH
Uramin Inc
Burnbrae Germany South GmbH
Burnbrae Germany West GmbH
Burnbrae Group Limited
Burnbrae Kreutzberg GmbH
Burnbrae Limited
Burnbrae Lutzowstrasse GmbH
Burnbrae Mitte GmbH
Burnbrae Prenlauer Berg GmbH
Burnbrae Residential GmbH
Burnbrae Sachsen GmbH
Burnbrae Schonefeld GmbH
Burnbrae Spandau GmbH
Burnbrae Tempelhof GmbH
Burnbrae Tiergarten GmbH
Burnbrae Wedding GmbH
Burnbrae Wilmersdorf GmbH
CCEC Ltd
Charlemagne Capital (IOM) Limited
Charlemagne Capital Limited
Charlemagne Capital Russia Fund
Charlemagne Capital Russia Value
Fund
Clean Air Capital Limited
Discover Investment Company
Emerging Metals Limited
Fixed-Odds Capital (Cook Islands)
Ltd
Genseq Limited
Global Glory Investment Limited
IC Technology UK Limited
Manx Financial Group plc
Microcap Partners Limited
Niger Uranium Limited
Paymonthly.com (Hong Kong) Limited
Polo Resources Limited
Red Dragon Resources Corporation
Regent Corporate Finance Limited
Regent Fund Management (Asia)
Limited
Regent Fund Management Limited
Regent Metals Holdings Ltd
Regent Pacific Group Limited
RL Country Warrant Fund
Shaanxi Red Dragon Resources Ltd
Shellbay Investments Limited
Sleepwell Hotels (UK) Limited
Sleepwell Hotels Limited
Speymill Group Plc
Speymill Property Managers Limited
Undervalued Assets Property Fund
-Series II
Uranco Inc
Webis Holdings plc
Director Current Directorships / Past Directorships
Partnerships
Michael Aden Services Limited Adela Limited
Riddell
Africa Asia Capital Limited Affordable Housing Solutions
Limited
Associated Design Consultants
Limited Aberdeen Yachts Limited
Ballyclare Developments (IOM) Adelaide Properties Limited
Limited
Alix Unlimited
Banion Limited
Amnesia Marine Limited
Blue Seas Bunkering Limited
Amnesia Shipping Limited
Bosbury Limited
Anagarth Limited
Bratoga Limited
Applejack Holdings Ltd
Bush Hill Limited
ASA Properties Limited
Belmont Properties Limited
Atlas Gaming Mulitmedia Limited
Castletown Holdings Limited
Avon Shipping Ltd
Chara Limited
Backstay Management Limited
Charlton Commercial Inc
Bambridge Investments Limited
CitiFinancial (Isle of Man) Limited
Bassano Limited
Clarins Limited
BCD Limited
Consword Limited
BDO (Isle of Man) Limited
Cornwall Mews (No. 22) Limited
Belconnen Limited
Cornwall Mews (No. 24) Limited
Benosar Limited
Cornwall Mews (No. 31) Limited
Berkshire Investment Management
Cornwall Mews (No. 32) Limited Limited
Cornwall Mews (No. 33) Limited Bindle Limited
Cornwall Mews (No. 34) Limited Boldergate Limited
Cornwall Mews (No. 37) Limited Bonita Marine Limited
Cornwall Mews (No. 39) Limited Bosworth Limited
Cornwall Mews (No. 41) Limited Boreen Limited
Cornwall Terrace (No. 11&12) Braemar Limited
Limited
Briercrete Limited
Cornwall Terrace (No. 2&3) Limited
Brimfield Limited
Cornwall Terrace (No. 20&21)
Limited Brinlock Corporation Limited
Cornwall Terrace (No. 4&5) Limited Brockmoor Trading Limited
Cornwall Terrace (No. 6&7) Limited Bullmore Limited
Cornwall Terrace (No. 8) Limited BVH Limited
Cornwall Terrace (No. 9&10) Limited Cambourne Limited
Crampton Developments Limited Cardston Limited
Delray Limited Carmyle Limited
Dexterous Limited Carnsdale Overseas Limited
Eadon Limited Cast Trading Limited
Elevate Europe Limited CCD Unlimited
Elmdon Company Limited Cedar Services Ltd
Englewood Limited Ceris Limited
Fairclass Limited Channel Yachting Limited
Falmouth Developments Limited Charter Corporate Services Ltd.
Falmouth Limited Chiltern Services (IOM) Limited
Finank Limited Cirrus Aviation Holding Limited
Fossgate Limited Clanworth Limited
Gansey Limited Clifton Gardens Limited
Glenside Investments Limited Colwick Limited
Greenford Management Inc Comans Limited
Greystone (IOM) Limited Compass Rose Marine Limited
Greystone First Nominees Limited Conservation Holdings Limited
Greystone Management Services Copap Participations Limited
Limited
Cornwall Terrace (No.8) Sub
Greystone Second Nominees Limited Limited
Greystone Secretaries Limited Creganna Medical Technology
Unlimited
Greystone Trust Company Limited
Creganna Solutions Limited
Gurney Limited
Curran Corporation Unlimited
Hartknoll Limited
Damus Group Limited
Haysboro Limited
Damus Holdings Unlimited
Hearth Investments Limited
Darius Unlimited
Indac Corporation Limited
Darsy Limited
International Management Solutions
Limited Darya Shipping and Chartering
Limited
ITE Contractor Services Limited
Dear Dr Cupid Limited
ITECS (UK) Limited
Dieppe Limited
James Toseland Racing Limited
Difcia Limited
JT & ST Properties Limited
Dirkdale Limited
Kentz Africa Holdings Limited
Dinsdale Properties Limited
Kentz Caspian Limited
Donner Limited
Kentz Corporation Limited
Dracaens Limited
Kentz Equitorial Guinea Limited
Drifdale Limited
Kentz International Limited
Eadon Estates Limited
Kentz Overseas Limited
ECJ Equity Partners Limited
Kentz TSS (Global) Limited
Edenton Limited
Kerbet Limited
Elan Global Corporation
Kew Developments Limited
Entara Holdings Limited
Keyway Investments Limited
Executive Charter Group Limited
Kingdon Developments Limited
Executive Jet Group Limited
Kirkshire Limited
Eyrie Property Limited
Lacey Enterprises Limited
Faelyn Limited
Leonora Limited
Fleet International Aviation
Light House Living Limited Limited
Lynwave Limited Maritime Finance Limited
Manderina Limited Fulham Developments Limited
Manyatta Limited Gabriel Properties Limited
Mapstone (IOM) Limited Gaming Ventures plc
Mara Holdings Limited Get21 Limited
Marengo Consulting Limited Glensanda Investment Limited
Maritime Charter Sales Ltd Goldpower Limited
Massala Services Limited Granite Investments Limited
Metal Engineering Technology Green Circle Limited
Limited
Greenstyle Limited
Michiel Control Limited
Hana Interoil Limited
Millet Limited
Hallasan Limited
Mongoose Pacific Limited
Harness Limited
Murex Securities Limited
Head Aviation Limited
Neptune Consultants Limited
Helix Technologies Limited
Noblebrand Limited
HIS (Isle of Man) Limited
Nosila Limited
Hollywood Gardens Limited
Oakmayne (Woolwich - Site 1)
Limited Hornchurch Investments Limited
Oakmayne (Woolwich - Site 3) Hosta Limited
Limited
Hurstwood Limited
Oakmayne (Woolwich) Limited
Hyperion Charters Limited
Oakmayne Holdings (Regeneration)
Limited Oakmayne Properties Image Group Limited
(Regeneration) Ltd
Impley Investments Limited
Oakmayne Ventures Limited
Intertransport Investments Limited
On Course Solutions Limited
Intertransport Overseas Limited
Parminder Limited
Iron Trading Ltd
Petro Group Limited
Jupiter Shipping Group Limited
Pineview Limited
Juniper Management Limited
Plasma Surgical Investments Limited
Kilcurran Limited
Plaza Developments Limited
Kildonan Investments Limited
Porterville Limited
Kildrum Limited
Radstock Limited
Kingswell Limited
Rathbawn (IOM) Limited
Kiwi Consulting Limited
Redland Enterprises Limited
Lanesfield Limited
Rivington Street Holdings PLC
Langham Investment Corporation
RW Capital LLC Limited
Salix Limited Langness Limited
Security Partner Limited Leptis Unlimited
Sigmar Aviation Limited Lew City Developments Limited
Shima Holdings Limited LF Film Distributors Limited
Silverburn Properties Limited Limelight Investments Limited
Soil Solutions Limited Listock Corporation Unlimited
Stettler Limited Logistic Investment Company
Limited
Sunny Investments Limited
Lotta Properties Limited
Talbot Directors Limited
Magee Group Holdings Limited
Templeside Investments Limited
Magee Holdings
Theron Limited
Mallards Unlimited
Trade Stairlifts Limited
Mamtos Limited
Toffsway Limited
Margaux International Limited
Tuque Limited
Marine & Bulk Limited
Update Technology (IOM) Unlimited
Masai Unlimited
Upper West Side Developments
Limited Maughold Limited
Urley Limited Meadow Park Estates Limited
Vancouver Limited Meadow Poppy Limited
Vanderbilt (Boundary Road) Limited Meval Limited
Vanderbilt Developments Limited Mew City Developments Unlimited
Ventura Enterprises Limited Migi Limited
Westminster Associates Limited Mintice Trading Limited
Worship Street Investments Limited Mirth Developments Limited
Wylton International (UK) Limited Monteband Unlimited
Wylton International Trading Moonlight Charters Limited
Limited
Moonstream Limited
Wylton Production Investment
Limited Mowbury Limited
Tempo Capital Management Limited Napa Valley (IOM) Unlimited
Tempo Fund Limited Napa Valley Holdings Limited
Tempo Volatility Fund Limited Nordic Finance Company Services
Limited
JK Investments (Cayman) Limited
O&H Wings Limited
Amiya Geo Master Fund Limited
Oakenfold Trading Limited
Amiya (Cayman) Limited
Olsen Developments Limited
Amiya Global Emerging Opportunities
Orillia Limited
Fund Limited
P & B Property Holdings Limited
Pamford Limited
Parmed Limited
Patrick Coman Unlimited
Palais Limited
Ramstead Limited
Peers Limited
Penhold Limited
Pennystone Consultants Limited
Penu Unlimited
Permanent Privacy Ltd
Petropolis Limited
Piccadilly Management Limited
Pidemco Limited
Plasma Surgical Investments
Limited
Plumleaf Limited
Plymstock Limited
Polahan Limited
Priya Communications Limited
Prunus Limited
Q Group Limited
Qamford Unlimited
Qatermast Limited
Reba Limited
Reem Investment Limited
Reinland Limited
Rempore Limited
RNG Gaming Limited
Roanlane Limited
Rock Holdings Limited
Roscoe Investments Limited
SaKentz Proekty Limited
Saintpaulia Limited
Savannah Charters Limited
Seba Unlimited
Sempore Unlimited
Shawcross Investments Limited
Silkway Entertainment Limited
Skipworth Properties Limited
Soest Limited
Southgate Overseas Limited
Southwark Bridge Village Limited
Stantmory Limited
Stigmory Limited
Tagore Limited
Tallcross Limited
TBR Energy Drinks Limited
Temrel Limited
Touleen Unlimited
Toulouse Limited
Triple Net Investments Limited
Triskeli Oil & Gas Limited
Trueblue Limited
Tubalcain Limited
Tynwald Limited
Ultra Marine Investments Ltd
Vanite Limited
Vanmory Limited
Vannin (IOM) Limited
Vastus Industries Limited
Verdun Investments Limited
Violet Marine Limited
Virgil Yachts Limited
VR Rope Walk Limited
Wadebridge Limited
Waldegrave Limited
Web Resources Limited
Westlock Unlimited
Whittal Company Limited
Wholesale Holdings Limited
Wireless Wonders Limited
World Natural Resources Limited
Wynnchurch Limited
Xantha Unlimited
Yoxall Properties Limited
Zamtos Unlimited
Zania Properties Limited
Zeval Unlimited
Zirth Developments Unlimited
Zowbury Limited
Zuma Limited
Eureka Interactive Fund Limited
The Japan Pragamtist Fund
Abruas Investment Managers
(Cayman) Limited
Gatko Capital LLC
Director Current Directorships / Past Directorships
Partnerships
Thomas Rivington Street Holdings Plc Brokerhorse Limited
Winnifrith (IoM)
J P Jenkins Limited
Rivington Street Sales &
Conferences Limited Rivington Street Corporate
Finance Limited
Rivington Street Ventures Limited
Rivington Street Holdings Plc
T1ps Investment Management (IoM) (UK)
Limited
Rivington Street Media Limited
Fairy Bridge Stockbrokers Limited
Sharecrazy.com Ltd
T1ps.com Limited
T1ps Investment Management
Limited
The Square Mile Bookstore Limited
Velum Limited
Director Current Directorships / Past Directorships / Partnerships
Partnerships
Denham Albany Management Ltd TransSend Holdings Ltd
Eke ARBB AG Estavis AGSpeymill Property Group
(UK) Ltd
Arundel Services Ltd
BigSave Ltd (dissolved)
BetInternet Ltd
Clean Air Capital Services Limited
Big Group plc
BigSave Ltd
Burnbrae Belgium Ltd
Burnbrae Charlottenburg GmbH
Burnbrae Commercial GmbH
Burnbrae Development GmbH
Burnbrae Friedrichstein GmbH
Burnbrae Germany East GmbH
Burnbrae Germany GmbH
Burnbrae Germany North GmbH
Burnbrae Germany South GmbH
Burnbrae Germany West GmbH
Burnbrae Group Ltd
Burnbrae Kreutzberg GmbH
Burnbrae Ltd
Burnbrae Lutzowstrasse GmbH
Burnbrae Mitte GmbH
Burnbrae Prenlauer Berg GmbH
Burnbrae Residential GmbH
Burnbrae Sachsen GmbH
Burnbrae Schonefeld GmbH
Burnbrae Spain SL
Burnbrae Spandau GmbH
Burnbrae Tempelhof GmbH
Burnbrae Tiergarten GmbH
Burnbrae Wedding GmbH
Burnbrae Wilmersdorf GmbH
Burrow Head Ltd
Calabrese House Ltd
Chester House Management Ltd
Chester House Property Ltd
Clean Air Capital Ltd
Conister Bank Ltd
Conister Card Services Ltd
Copper Development Corporation
Deutsche Flughaven Investments plc
DF Holdings plc
Dundrennan Ltd
Emerging Metals Ltd
European Wagering Services Ltd
Executive Club (IoM) Ltd
Galloway Ltd
Genseq Limited
German Airport Investments plc
IC Techology (UK) Ltd
Indigo Securities Ltd
Islay Enterprises Ltd
Manx Financial Group plc
Marchmont Enterprises Ltd
Navrona Investments Ltd
Orkney Group Ltd
Paymonthly.com (Hong Kong) Ltd
Regent Group Ltd
Ross Services Ltd
Rothesay Enterprises Ltd
SCI Burnbrae Paris
Scotsdale Properties Ltd
SDJM Ltd
Shellbay Investments Ltd
Sleepwell Aviation Ltd
Sleepwell Construction Management
Ltd
Sleepwell Hotels (UK) Ltd
Sleepwell Hotels Ltd
Snowdoun Ltd
Speymill Contracts Ltd
Speymill plc
Speymill Property Group Ltd
Speymill Property Managers (Far
East) Ltd
Stonehaven Properties Ltd
SunGreen Ltd
Technical and Facilities Services
Ltd
Transbank Card Services Ltd
Troon Properties Ltd
Webis Holdings plc
Wielandstrasse 5 Objekt GmbH
Yu Xiang Yuan (Steel) Limited
Save as disclosed below, none of the New Directors have any unspent
convictions, have been declared bankrupt or have been the subject of an
individual voluntary arrangement. None of the New Directors were directors of
any company at the time of, or within the 12 months preceding, its bankruptcy,
receivership, administration, liquidation, company voluntary arrangement or
composition or arrangement with its creditors generally. There have been no
official public incrimination or sanction of any of the New Directors by any
statutory or regulatory authority (including designated professional bodies)
and no New Director has ever been disqualified by a Court from acting as a
director of a company or from acting in the management or conduct of the
affairs of any company. No New Director was partner in any partnership at the
time or within 12 months preceding its compulsory liquidation, dissolution,
administration or partnership or voluntary arrangement.
i. Mr James Mellon is also a Non-Executive Co Chairman of Regent Pacific Group
Ltd, a company listed on the Hong Kong Stock Exchange. The Directors have
been informed by Mr Mellon that there is an arrest warrant in his name
which was originally issued by the South Korean prosecutor's office on 19
December 2000 and subsequently reissued on 14 January 2004. The warrant was
due to remain valid and effective until 12 March 2010. The arrest warrant
pertains to Mr Mellon's alleged involvement in a conspiracy with Seung-Hyun
Jin ('Mr Jin') and Chang-Kon Koh to manipulate the share price of Regent
Securities Co., Ltd ("Regent") and a failure to make adequate
investigations in connection with the provision of certain loans by one of
Regent's subsidiaries to Mr Jin. Mr Mellon has informed the Board that he
denies these allegations which are without substance.
ii. On 8 April 2003, Regent Pacific Fund, a company of which Jim Mellon was a
director for the 12 month period preceding such date, entered into a
voluntary liquidation.
iii. On 9 December Undervalued Assets Fund - Series One, a company of which Jim
Mellon was a director for the 12 month period preceding such date, entered
into a voluntary liquidation.
iv. Asian Opportunity Fund 1998 - Series I commenced voluntary liquidation on 5
February 2008 pursuant to its Articles and Association. Jim Mellon was a
director for the 12 month period preceding such date.
v. Jim Mellon was also previously a director of Regent Global Fund and
Undervalued Assets Greater China Fund Series III, both of which went into
voluntary liquidation. These two funds were liquidated with the consent of
shareholders as the directors recommended that due to a decline in the size
of the funds, they were uneconomic. There were no unsatisfied creditors
vi. Mr Eke was a non-executive director within 12 months preceding the date on
which Roldec Systems plc entered into a creditors voluntary liquidation,
which occurred in March 1999. Roldec Systems plc was subsequently dissolved
on 17 April 2003.
---Ends---
END
RIVINGTON STREET HOLDINGS PLC
© 2010 PR Newswire
