Midas to dispose of offshore fund operations

The group will sell its Guernsey-based Midas Capital International company to MitonOptimal International - with the Cape Town-based Midas Capital Asset Management offloaded to a consortium led by the offshore group's CEO and former MitonOptimal joint managing partner Scott Campbell. Both groups are operating funds under the MitonOptimal brand, which includes a £30m offshore mirror of Martin Gray's popular Special Situations Portfolio. Midas Capital will receive a cash payment of £300,000 as well as a dividend pre completion of surplus net cash in the two offhore companies, amounting t...