Alan Dixon, CEO of financial advisory firm Evans Dixon, announced on June 12 that he will resign from his role in order to focus on managing the U.S. Masters Residential Property Fund.
Dixon will stay on as an executive director. While the firm searches for his replacement, executive chairman David Evans will act as temporary CEO.
According to Investor Daily, Evans Dixon and Walsh & Company Investments are working to pay off unsecured debt holdings URF Notes II and URF Notes III through a new program.
In order to pay off debts, the fund will also cut dividends from five cents to one cent and sell the property portfolio.
Share prices in the firm dropped from a value of $2.50 after the firm’s IPO last May, to 86 cents at present, with a market cap of $189.3 million.
