Duke Royalty Limited Update on Exclusive Collaboration (3407R)
14 June 2018 - 4:00PM
UK Regulatory
TIDMDUKE
RNS Number : 3407R
Duke Royalty Limited
14 June 2018
14 June 2018
Duke Royalty Limited
("Duke Royalty", "Duke" or the "Company")
Update on Exclusive Collaboration Agreement
Duke Royalty Limited (AIM: DUKE), a provider of alternative
capital solutions to a diversified range of profitable and
long-established businesses in Europe and abroad, announces that it
has mutually agreed with Oliver Wyman to end the exclusive
healthcare collaboration announced on 7 September 2015.
The work that the two firms have undertaken together while
developing Duke's existing royalty portfolio has adhered to the
economic framework of the original agreement however, the sector
focus has been broader than originally envisaged by either party.
As such, the necessity of the exclusive relationship in potential
healthcare investments was deemed to be no longer relevant by
either party, given that Duke's future pipeline transactions are
mostly outside of this sector.
Going forward, Duke intends to continue working with Oliver
Wyman on a non-exclusive basis. It also plans to supplement Oliver
Wyman's due diligence efforts with relationships with additional
global consulting firms which demonstrate expertise and local
knowledge for each investment opportunity.
The Company will continue to use an independent Investment
Committee with additional royalty and investing expertise for
investment recommendations. Oliver Wyman will continue to be
represented on the Investment Committee.
Neil Johnson, CEO of Duke Royalty, said:
"Our close relationship with Oliver Wyman will remain on a
non-exclusive basis, although we are now well positioned to broaden
our network of consultancies across different sectors."
***ENDS***
For further information, please contact www.dukeroyalty.com, or
contact:
+44 (0) 1481 741
Duke Royalty Limited Neil Johnson/ Charlie Cannon-Brookes 240
Grant Thornton UK
LLP Colin Aaronson/ Samantha +44 (0) 20 7383
(Nominated Adviser) Harrison 5100
Cenkos Securities
plc +44 (0) 207 397
(Joint Broker) Julian Morse/ Michael Johnson 8900
Mirabaud Securities
Limited +44 (0) 20 3167
(Joint Broker) Peter Krens/ Edward Haig-Thomas 7222
Redleaf Communications Elisabeth Cowell/ Robin +44 (0) 20 3757
(PR) Tozer/ Ian Silvera 6880
Dukeroyalty@redleafpr.com
About Duke Royalty
Duke Royalty Limited provides alternative capital solutions to a
diversified range of profitable and long-established businesses in
Europe and abroad. Duke Royalty's experienced team and exclusive
partnership provide financing solutions to private companies that
are in need of capital but whose owners wish to maintain equity
control of their business. Duke Royalty's royalty investments are
intended to provide robust, stable, long term returns to its
shareholders. Duke Royalty is listed on the AIM market under the
ticker DUKE and is headquartered in Guernsey.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS, the news service of the
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END
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