Expansion of core business (7311E)
06 6월 2012 - 3:01PM
UK Regulatory
TIDMWCW TIDMARP
RNS Number : 7311E
Walker Crips Group plc
06 June 2012
Walker Crips Group plc
("Walker Crips" or the "Company")
Expansion of core business
The Board of Walker Crips is delighted to announce that the
Company and Ashcourt Rowan plc ("Ashcourt Rowan") have entered into
an agreement (the "Agreement") to facilitate the recruitment of six
Investment Managers from Ashcourt Rowan's Savoy Investment
Management subsidiary to the Company's wholly owned subsidiary,
Walker Crips Stockbrokers Limited ("WCSL").
Pursuant to the Agreement, Ashcourt Rowan has waived and
released the Investment Managers from their notice periods and
restrictive covenants and has undertaken to assist in the efficient
and swift transfer of their clients to WCSL. In return, Walker
Crips has agreed to pay Ashcourt Rowan a release fee of GBP425,000
and has agreed to reimburse its reasonable third party costs up to
a maximum of GBP120,000.
Rodney Fitzgerald, Chief Executive of Walker Crips,
commented:
"We welcome this group of like-minded Investment Managers to the
team at Walker Crips and look forward to welcoming their clients
into our organisation without a disruption to their service.
Walker Crips is an established firm with a unique and compelling
offering. This investment accelerates the expansion of our core
business as part of the Board's progressive growth strategy."
For further information please contact:
Rodney Fitzgerald Chief Executive Tel: +44 (0) 20 3100
8000
Geri Jacks Media Enquiries
This information is provided by RNS
The company news service from the London Stock Exchange
END
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