Financial services groups iimia and Exeter have agreed to merge to create a financial services business, iimia Investment Group, with nearly 500 million in funds under management and 3 billion in funds under administration.
iimia Investment Group will list on AIM and on completion of the merger, the new group will have four divisions: third party administration, fund management, financial planning and private client investment management.
The merger is unanimously recommended by both boards and subject to shareholder acceptance, AIM admission will be effective and dealing in the shares of the new group will begin on Monday 9 August.