Wednesday, 22 October 2014
Last updated 6 hours ago
Sep 24 2012 | 2:13pm ET
The Man Group will be replaced by a new Man Group in a share exchange and corporate restructuring that the hedge fund giant said will give it greater flexibility and shore up its dividend-paying ability.
Under the plan, Man will set up a new holding company, Man Strategic Holdings. Man shareholders would then get shares of "New Man" and "old Man" would be de-listed from the London Stock Exchange. Following the completion of the exchange, set for Nov. 6, Man Strategic Holdings would be renamed Man Group.
The restructuring will enhance Man's access to distributable reserves, which will offer the sought-after distributable reserves and the ability to continue its dividend policy.
The restructuring will have no effect on Man's board, management or corporate governance.
Shareholders will vote on the plan on Oct. 17. The proposal requires the approval of 75% of shareholders.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...