Admission to AIM

11th Mar 2005 09:02

Brooks Macdonald Group PLC11 March 2005 Not for release in or into the United States of America, Canada, Japan,Australia, South Africa or the Republic of Ireland. For immediate release 11 March 2005 Brooks Macdonald Group PLC (the "Company" or the "Group") Admission to AiM and Placing of 2,959,800 ordinary shares of 1p each ("OrdinaryShares") at 140p per share The Directors announce today the admission of the Company's Shares to trading onthe Alternative Investment Market of the London Stock Exchange ("AiM") and theraising of £1.75 million (before expenses) through the issue of 1,250,000 newOrdinary Shares at 140p per share. Introduction Brooks Macdonald is an integrated private client discretionary asset managementand financial advisory group. The Group has two operating divisions: AssetManagement and Financial Consulting. Asset Management provides discretionaryportfolio management to private clients, charities, self invested personalpensions and trusts whereas Financial Consulting provides a comprehensive, feebased financial management service across a range of clients. The Directors believe that the Group's flotation on AiM will provide anopportunity to raise the Group's profile, incentivise and retain key staff whowere not founders of the Group and help to attract and incentivise newemployees, who can themselves assist in the Group's development. Asset Management Asset Management is an independent asset management business providingdiscretionary portfolio management for private clients, self invested personalpensions, trusts and charities. As at 1 January 2005, Asset Management had fundsunder management of approximately £371 million. It accounts for approximately 65per cent. of Group turnover and represents the core focus area for thedevelopment and growth of the Group. Financial Consulting Financial Consulting, the financial consulting arm of the Group, providesindependent financial advice to high net worth individuals, families andbusiness entities on a long-term basis, frequently working in tandem with AssetManagement. Details of the Placing Collins Stewart Limited ("Collins Stewart") has placed with a range ofinstitutional investors: 1,250,000 new Ordinary Shares; and1,709,800 existing Ordinary Shares, in each case at 140 pence per share. Lock-in Arrangements Each of the Executive Directors and other Selling Shareholders have entered intolock-in arrangements with Collins Stewart as part of a placing agreement. Underthese arrangements, subject to certain exceptions, they have undertaken not todispose of any Ordinary Shares (and to use their reasonable endeavours toprocure that none of their related parties dispose of any Ordinary Shares) untilsuch date as the Company announces its preliminary results for the year ending30 June 2006 and have also agreed to an orderly market provision for the 6months following the end of the lock-in arrangements. Enquiries: Simon Jackson 020 7499 6424Brooks Macdonald Group PLC Paul Richards 020 7523 8350Collins Stewart Limited Collins Stewart, which is authorised and regulated by the Financial ServicesAuthority in respect of regulated activities, is acting as nominated adviser andbroker to the Company in connection with its application to AiM. CollinsStewart will not be responsible to any other person for providing theprotections afforded to customers of Collins Stewart or for providing advice inrelation to the proposed application. The Directors of the Company accept responsibility for the contents of thisannouncement which has been approved by Collins Stewart (whose principal officeis at 88 Wood Lane, London EC2V 7QR) solely for the purposes of Section 21 ofthe Financial Services and Markets Act 2000. To the best of the knowledge and belief of the Directors, who have taken allreasonable care to ensure that such is the case, the information contained inthis announcement is in accordance with the facts, and this announcement makesno omission likely to affect the import of such information. No offer or invitations to acquire shares in the Company is being made by or inconnection with this announcement. Any such offer has been made solely by meansof a prospectus published by the Company on 2 March 2005. Copies of the admission document will be available during normal business hourson any weekday (Saturday and public holidays excepted) at the offices ofMacfarlanes, 10 Norwich Street, London, EC4A 1BD, for one month from the date ofthis announcement. This information is provided by RNS The company news service from the London Stock Exchange

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Brooks Macdonald