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BRIEF-Great Elm Capital Group enters into agreement to establish operating and governance independence
September 18, 2017 / 10:55 PM / 3 months ago

BRIEF-Great Elm Capital Group enters into agreement to establish operating and governance independence

Sept 18 (Reuters) - Great Elm Capital Group Inc

* Great Elm Capital Group, Inc. enters into agreement to establish operating and governance independence

* Great Elm Capital Group Inc - ‍names Peter Reed CEO of Great Elm Capital Group​

* Great Elm Capital Group Inc - ‍As part of agreements, Mast and their respective affiliates entered into a standstill and voting agreement​

* Great Elm Capital Group Inc - ‍Now fully separate from mast, Great Elm executed a cost reduction program for its investment management team​

* Great Elm Capital Group- As part of the agreement will no longer provide services to mast

* Great Elm Capital Group - ‍great Elm, Mast, Northern Right entered into agreements that facilitate co’s transition to an independent operating entity

* Great Elm Capital Group Inc - ‍Principal of note issued by a Great Elm subsidiary to mast was reduced by $7.3 million​

* Great Elm Capital Group Inc - ‍great Elm, Mast, Northern Right terminated their cost sharing agreement​

* Great Elm Capital Group Inc - ‍Jeffrey Serota was elected chairman of Great Elm’s board of directors​

* Great Elm Capital Group Inc - ‍As part of transaction, Mast has right to purchase from Great Elm an additional 420,000 shares of Great Elm common stock​ Source text for Eikon: Further company coverage:

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