BRIEF-Peregrine Sells 50% Shareholding In Stenham Asset Management For 16 Mln Stg

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BRIEF-Peregrine Sells 50% Shareholding In Stenham Asset Management For 16 Mln Stg

Oct 24 (Reuters) - Peregrine Holdings Ltd PGRJ.J :

* VOLUNTARY ANNOUNCEMENT - SALE OF 50% SHAREHOLDING IN STENHAM ASSET MANAGEMENT HOLDINGS LIMITED

* TRANSACTION WHICH VALUES SAM AT GBP16 MILLION

* HAD DEAL BEEN IN EFFECT FOR FY ENDED 31 MARCH 2019, IT WOULD RESULT IN 3% REDUCTION IN BOTH HEADLINE EARNINGS, HEPS

* UNIT OF PEREGRINE, HAS AGREED IN PRINCIPLE, WITH EFFECT FROM 1 APRIL 2019, TO SELL 50% OF ITS SHAREHOLDING IN SAM TO MANAGEMENT

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