14th Feb 2005 07:00
Charles Stanley Group PLC14 February 2005 14 February 2005 Charles Stanley Group PLC ("Charles Stanley") Proposed Acquisition of Rowan Dartington & Co. Limited ("Rowan Dartington") Charles Stanley is pleased to announce that it has entered into exclusivenon-binding Heads of Agreement to acquire the entire issued share capital ofRowan Dartington & Co. Limited. Rowan Dartington, which is based in Bristol and has six branch offices in Bath,Chichester, Hereford, Redruth, Taunton and Weston-super-Mare, provides a widerange of private client and institutional stockbroking services, together withcorporate finance services principally to smaller quoted companies and companiesreaching listing quality. For the year ended 31 December 2004, based on unaudited management accounts,Rowan Dartington made an estimated pre-tax profit of £0.85 million (2003: £0.01million) on turnover of approximately £5.95 million (2003: £4.89 million). A further announcement will be made in due course. For further information, please contact: Charles Stanley Group PLC Tel: 020 7739 8200Sir David Howard - ChairmanMike Lilwall - Director Bridgewell Securities Ltd Tel: 020 7003 3000Ben Money-Coutts Tavistock Communications Ltd Tel: 020 7920 3150Jeremy Carey / David Foxman Note to editors Charles Stanley is one of the UK's leading independent stockbroking groups. Ithas 24 offices across England and Wales and provides private clients with acomprehensive range of discretionary, advisory and execution-only services andproducts. It also has a range of complementary private client services andproducts including branded SIPP and ISA products and pensions consultancy. Its Corporate Finance and Broking division provides comprehensive advisory,equities research and institutional sales services to smaller UK quotedcompanies and currently has 44 retained clients. For the year ended 31 March 2004, Charles Stanley had turnover of £68.2m (2003:£51m) and profit before tax of £6.6m (2003: £1.0m). It had private client fundsunder advice or management of £6.7 billion. -Ends- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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