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Acquisition for AIM-Listed Wealth Manager

AIM-listed investment wealth manager iimia is to merge with MitonOptimal Group a multi-asset manager with £360 million ($728 million) funds under management and advice, for a consideration of £18.6 million to be satisfied in cash and by the issue of new shares in iimia. The merger, which is subject to the passing of shareholder resolutions at the Extraordinary General Meeting to be held on 9 October 2000, will result in a change of name to iimia MitonOptimal plc. Miton Investments was founded in 1986 and merged in 2005 with Optimal Fund Management Ltd, a Guernsey-based company with a global client base. iimia has also reported an interim pre-tax profit of £0.84 million from gross revenue of £5.67 million for the six months ended 30 June 2007. Funds under management and advice totaled £672 million as at 30 June 2007 compared with £650 million as at 31 December 2006.