Nimrod Sea Assets Limited Directorate Change (0569Q)
24 Novembro 2016 - 3:00PM
UK Regulatory
TIDMNSA
RNS Number : 0569Q
Nimrod Sea Assets Limited
24 November 2016
24 November 2016
NIMROD SEA ASSETS LIMITED
Appointment of Executive Directors
Further to its announcement on 30 September 2016, Nimrod Sea
Assets Limited (the "Company"), a Guernsey-domiciled company with
registered number 55718, is pleased to announce that Mr Robin Das
and Mr Frank Pedder have been formally appointed as executive
directors of the Company. Mr Das and Mr Pedder are principals of
Auld Partners Ltd ("Auld") which has been recently appointed to
provide consultancy services to the Company.
Under the terms of its appointment, Auld is entitled to
materially lower fees than those which had been payable by the
Company to its previous consultancy services provider. This
reduction reflects the lower net asset value of the Company since
its initial public offering in 2014. Nimrod Capital LLP ("Nimrod"),
the Company's corporate and shareholder adviser, had also offered a
substantial fee reduction to the Board earlier this year, which has
now been accepted by the Board. The Company and Nimrod have agreed
that the reduction in Nimrod's fees will be backdated to the
beginning of the Company's financial year (1 April 2016).
Over the past few months, the Company has received indicative
proposals from third parties suggesting various strategic and
restructuring options. The Company intends, in consultation with
Auld and Nimrod, to continue considering these options for the
future of the Company, and any others that may be put forth,
including an orderly managed wind-down.
Jeff Vidamour
Director
- end -
For further information, please contact:
For administrative and company information:
JTC (Guernsey) Limited
+44 1481 702400
For shareholder information:
Nimrod Capital LLP
Richard Bolchover
Marc Gordon
+44 (0)20 7382 4565
This information is provided by RNS
The company news service from the London Stock Exchange
END
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