Midas and iimia announce merger plans

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MIDAS Capital Partners Ltd (Midas) is set to merge with iimia MitonOptimal Plc (iMO).

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...

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