Last Friday, it was announced that Alastair Mundy, the individual manager of Temple Bar (TMPL), had been given an extended leave of absence by Ninety One (TMPL’s manager), for health reasons. Click here for our full story from Friday.
12 months notice served
Further to the announcement made last week, the board of TMPL has concluded that, in the current circumstances, it is appropriate to conduct a review of the future management arrangements of the trust. The board noted in an RNS statement that it does not wish to pre-empt the results of such review and it is certainly possible that the existing management arrangements will be maintained. However, the board believes that it is prudent at this time to serve 12 months protective notice on TMPL’s manager, Ninety One UK, as per the terms of the management agreement.
A further update from TMPL will follow in due course.
TMPL: Temple Bar serves protective notice to manager Ninety One UK