Share, the parent company of broker The Share Centre and asset manager Sharefunds, has taken a 5% stake in the Way Group as part of a commercial tie-up.
Way Group - the holding company of Way Fund Managers (WFM), Way Investment Services and Elite Administration Services - will allow Sharefunds to take over the outsourced fund accounting services of WFM's range of 40 collective investment schemes. In exchange, Share will acquire 1,500 shares in the Way Group for £472,500. Following a transitional period of 18 months, the issued share capital of Way is likely to be admitted to trade on The Share Centre's stock market for smaller companies - Sharemark. Sharefunds and Sharemark MD Iain Wallace will join the Way board. "We look forwa...
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