Proposed disposal of KBR - Replacement

The following amendment has been made to the Disposal announcement released on 1 November 2012 at 7.00am under RNS No 0370Q.

The third paragraph of the announcement has been amended to read "In addition, KBR and Walker Crips have entered into an agreement on normal commercial terms for the ongoing provision of office space and regulatory, compliance, accounting and other services to KBR."

All other details remain unchanged.

The full amended text is shown below.

1 November 2012

Walker Crips Group plc

Proposed disposal of Keith, Bayley, Rogers & Co. Limited

Walker Crips Group plc ("Walker Crips" or the "Company"), the financial services group, announces that it has entered into a conditional agreement with BWV Investments Limited ("BWVI") relating to the proposed disposal (the "Disposal") of the entire issued share capital of its subsidiary Keith, Bayley, Rogers & Co. Limited ("KBR"). Completion of the Disposal ("Completion") is subject, inter alia, to the approval of the Financial Services Authority and is expected to occur on or before 31 March 2013.

Consideration for the Disposal, which payable in cash on Completion, is an amount equal to the net assets of KBR as at close of business on 31 October 2012 (expected by the directors of Walker Crips to be £270,000) plus £75,000. The net proceeds of the Disposal will be used by the Company to invest in its remaining business.

In addition, KBR and Walker Crips have entered into an agreement on normal commercial terms for the ongoing provision of office space and regulatory, compliance, accounting and other services to KBR.

KBR's principal activity is the provision of corporate finance advice and other services predominantly to smaller quoted companies. In the year ended 31 March 2012, KBR recorded turnover of £302,000 and a loss before tax of £92,000. The audited net assets of KBR as at 31 March 2012 were £310,000.

Commenting on the Disposal, Rodney FitzGerald, CEO of Walker Crips, said:

"The Company is focussed on investing in and expanding its core stockbroking, wealth and investment management businesses. KBR has a long and distinguished history but it is non-core to our current plans."

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