Midas and iimia announce merger plans

It will be renamed Midas Capital Plc and be listed on the AIM Market. Midas was formed in 2002 and currently has over £1.6bn funds under management; the merger with iMO will bring its funds under management up to £3bn. Simon Edwards, the current chief executive of Midas will become the new head of fund management and managing director of the new company. He said: "The Midas and iMO teams have a serious commitment to the new business. As well as becoming major shareholders of the enlarged business, my colleagues and I will invest at least a further £20m of personal monies into funds mana...