14 September 2005

The Web

UK Listed Company increases shareholding in Maltese Group

The Global Financial Services Group p.l.c. announced that Aberdeen Asset Management p.l.c have increased their shareholding in the company through the acquisition of 3.63% shares in The Global Group. This acquisition increases Aberdeen Asset Management p.l.c. shareholding in The Global Group from 5.3% to 8.93%.
Aberdeen Asset Management p.l.c., a company listed on the London Stock Exchange, is an international investment management group which manages assets for both institutional and retail clients from a number of offices around the world. The company holds a total GBP 26.63 billlion (EUR 39.43 billion) funds under management and advice.
The Global Group provides back office administration services to Aberdeen and the exclusive representative of Aberdeen funds in Malta. In addition, Mr. Gary R. Marshall, a member of Aberdeen’s executive committee, who heads up Aberdeen’s Sales and Marketing operations is an non-executive director on The Global Group board of directors.
In a recent announcement, The Global Group published some very positive interim results having registered a 69% increase, from Lm397,998 to Lm 674,588, profit before taxation for the six months ended 30 June 2005. Global Group Chief Executive Officer – Nicholas Portelli stated ’We believe that this is a significant show of confidence in The Global Group by a top fund management company. Aberdeen have stated that they are encouraged by developments in Malta and the positive results achieved by The Global Group’.
Through its various subsidiaries, The Global Group has diversified revenue streams being involved in the provision of investment services, fund advisory services, life and health insurance, insurance broking and property management and advisory services.

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