14th Jul 2008 07:00
RNS Number:
Friends Provident PLC
14 July 2008
14 July 2008
Pantheon Financial Limited Update
Friends Provident plc ('Friends Provident'), has taken the decision to retain its 100% ownership of Pantheon Financial Limited ('Pantheon Financial') to avoid disruption of Pantheon Financial's business due to ongoing speculation on changes of ownership in the near future.
Despite a number of positive expressions of interest Friends Provident believes it will not be possible in the short term to achieve a sale price that will realise suitable value for shareholders. Therefore it has taken the decision to retain Pantheon Financial.
- Ends -
Notes:
Pantheon Financial is a national independent financial adviser specialising in the high net worth and ultra high net worth markets. The company has grown organically and through successfully integrating acquisitions, and its activities include financial and tax planning, specialist retirement planning, mortgage advice and discount execution only broking.
For further information, please contact:
Nick Boakes Friends Provident plc 0845 641 7814
Peter Timberlake Friends Provident plc 0845 641 7834
Chris Ford Friends Provident plc 0845 641 7832
Vanessa Neill Finsbury Limited 020 7251 3801
Alex Simmons Finsbury Limited 020 7251 3801
Ref: I056
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