Bramdean to rebrand under Aberdeen banner
Added 09 March 2010 by Simon Danaher
Bramdean Alternatives is changing its name to the Aberdeen Private Equity Fund, subject to shareholder approval, to reflect the name of its new owners following the company’s purchase from Nicola Horlick late last year.
The company was purchased by Aberdeen Asset Management in November last year from its founder and majority share holder Horlick for £176m.
In addition to its name change, the company is to refine its investment objective and policy to focus primarily on private equity funds and to move away from its current hybrid objective of investing in private equity, hedge funds and other specialist funds.
Further to this, the board has approved a decision to convert all of its dollar shares into sterling in order to simplify the company’s capital structure and to waive the obligation of shareholder Elsina to make a general offer to shareholders.
A circular of the proposals is currently in the process of being finalised and will be sent to shareholders in due course. There will then be an extraordinary general meeting at which shareholders will be able to vote on the proposals.
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