|Go to market news section|
Jupiter Fund Management plc
11 April 2013
Richard I. Morris Jr. to step down as a non-executive
Director of Jupiter Fund Management plc
Jupiter Fund Management plc ("Jupiter", "the Company") announces that Richard I. Morris Jr. will be stepping down as a non-executive Director of the Company on 19 July 2013, three months after Jupiter's Annual General Meeting, which is to be held on 18 April 2013.
Mr Morris's resignation follows the share sale by TA Associates, L.P. and related parties on 20 March 2013, taking its shareholding below the 15 per cent. required for it to nominate two non-executive directors to Jupiter's Board.
Jamie Dundas, Chairman of Jupiter Fund Management plc, said: "Richard has made a very strong contribution to Jupiter since joining the Board at the time of our MBO in 2007. The Board would like to thank him and to wish him every success in his future endeavours."
Mr Morris commented: "I have thoroughly enjoyed my time on the Jupiter board, and will follow its future progress with great interest as a shareholder."
The Company and TA Associates, L.P. entered into an agreement on 2 June 2010 to regulate the relationship between them. This provides (inter alia) that TA Associates, L.P. is entitled to nominate for appointment: (i) two non-executive directors to the Board while it (and/or any of its associates) owns, on an aggregated basis, 15 per cent. or more of the ordinary shares in issue from time to time; and (ii) one non-executive director to the Board while it (and/or any of its associates) owns, on an aggregated basis, 10 per cent or more of the ordinary shares in issue from time to time.
The agreement will terminate once the aggregate interest of TA Associates, L.P. and its associates in ordinary shares in the Company falls below 10 per cent.
For further information please contact:
Jupiter Adrian Creedy Alicia Wyllie
+44 (0)20 7314 4789 +44 (0)20 7314 5573
Financial Dynamics Ed Gascoigne-Pees Andrew Walton
+44 (0)20 7269 7132 +44 (0)20 7269 7204
|London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.|
|©London Stock Exchange plc. All rights reserved|