The AMF has postponed the effective date of the authorisation withdrawal of the asset management company Nestadio Capital
Taking note of advanced discussions aiming at transferring the holdings of the funds managed by the société de gestion des fonds d’investissement de Bretagne, commercially referred to as "Nestadio Capital", the effective date of the authorisation withdrawal of Nestadio Capital is postponed.
During its 17 December 2019 meeting, the AMF Board noted that the company was no longer complying with the terms of its authorisation. The AMF Board therefore decided to withdraw its authorisation as a portfolio asset management company. This authorisation withdrawal was to take effect at the latest on 1st July 2020, except in the case of an extension.
Noting that state of progress of the steps taken by the company and its agent did not allow a transfer or liquidation of the funds by the end of the initial term, the AMF Board decided, on 9 June 2020 then on 8 December 2020, to postpone the deadline of Nestadio Capital’s authorisation withdrawal, with effect at the latest on 30 June 2021, unless extended.
During its 8 June 2021 meeting, the AMF Board, taking note of advanced discussions aiming at selling the holdings of the funds managed by Nestadio Capital to one or more transferees, decided to postpone the deadline of Nestadio Capital’s authorisation withdrawal, with effect at the latest on 31 December 2021 and for the sole purpose of allowing the completion of the sale operations and the liquidation of the funds managed by Nestadio Capital.
Nestadio Capital has appealed AMF’s decision dated 17 December 2019 to withdraw its authorisation before the Conseil d'Etat.
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