Asset Match, the online peer-to-peer multi-trading facility for private companies, announces the appointment of Giles Vardy, Alastair Watson, Charles Breese, William Fewen and Oli Rayner as members of its newly constituted Advisory Board.
Plus Markets has agreed to sell its derivatives exchange to Pipeline Capital, a new company set up by former staffer Clive Connors.
Icap confirms that all the conditions relating to its acquisition of Plus Stock Exchange plc have been satisfied and that the transaction has now completed
Icap is pleased that the shareholders of Plus Markets Group plc ("PMG") have today approved the sale of Plus Stock Exchange plc ("Plus") to Icap. Icap will now work to complete the transaction without delay.
Further to the Company's announcement of 14 June 2012, the Company announces that Ahmed Ibrahim Al Asfour has been removed from the board of the Company and its wholly owned subsidiary Plus Stock Exchange plc, following a request from Amara Dhari Investments Limited ("ADIL") (the "Notice") in accordance with the Company's shareholder agreement with ADIL dated 4 September 2009 (the "Shareholder Agreement").
Plus Markets is to sell its technology platform to Forum Trading, a new company whose founder shareholders consist of Hirander Misra, the former co-founder and COO of Chi-X Europe, Tony Harrop, the chief technology officer of Plus Markets Group, Richard Atkins, formerly head of trading system management & development at the London Stock Exchange and all eight employees of the Plus-TS technology team.
Icap has moved to appease dissident shareholders looking to derail its acquisition of Plus Stock Exchange by raising the purchase price to £500,000 from £1.
Dissident shareholders of Plus Markets Group have tabled a resolution to oust the chairman and chief executive over their proposals to sell the small cap exchange business to Icap for £1.
Plus Markets has turned down a rival bid for small cap exchange Plus SX from Gulf Merchant Bank in favour of an agreed £1 cash offer from interdealer broker Icap.
Intedealer broker Icap has agreed to acquire loss-making Plus Stock Exchange, the smaller company equity exchange, for £1 in cash.
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