Timetable for transition to new Investment Manager (1544T)
01 Dezember 2011 - 11:30AM
UK Regulatory
TIDMIFD
RNS Number : 1544T
Invista Foundation Property Tst Ltd
01 December 2011
1(st) December 2011
Invista Foundation Property Trust Limited
Timetable for transition to new Investment Manager
On 31 October 2011, the Board of Invista Foundation Property
Trust (the "Company") announced that it had signed an Investment
Management Agreement (the "IMA") with Schroder Property Investment
Management Limited ("Schroders"), with the appointment of Schroders
to manage the Company's portfolio due to take effect upon certain
conditions being satisfied. These include the receipt of all
necessary consents from the Company's lenders, the termination of
the existing contract with IREIM and the recruitment by Schroders
of certain individuals currently employed by IREIM who have been
directly involved with the management of the Company's portfolio in
the past and who are therefore familiar with the key asset
management initiatives which are under way.
The Company has made good progress towards the satisfaction of
these conditions, with the process to obtain all necessary consents
(including the formal consent required from note-holders at a
general meeting) expected to be concluded in late December 2011 or
early January 2012. The final transition from IREIM to Schroders is
then expected to take place shortly thereafter.
In the meantime, the Company's portfolio continues to be
actively managed by the IREIM team, who are also liaising with
Schroders where necessary to ensure the final transition takes
place without disruption to the various asset management
initiatives which are in hand.
- ends -
For further information, please contact:
Numis Securities Limited Tel: 020 7260 1000
Heraclis Economides
David Benda
Hugh Jonathan
FTI Consulting Tel: 020 7831 3113
Stephanie Highett
Richard Sunderland
Olivia Goodall
Schroder Property Investment Management Tel: 020 7658 6752
Limited
William Hill
Invista Real Estate Investment Management Tel: 020 7153 9323
Ltd
Duncan Owen
This information is provided by RNS
The company news service from the London Stock Exchange
END
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