16th Jun 2006 07:00
Brewin Dolphin Holdings PLC16 June 2006 Brewin Dolphin Securities Enters into Purchase Agreement for API InvestmentManagement Business On 15th June 2006 the Group's wholly owned subsidiary, Brewin Dolphin SecuritiesLimited (BDS), entered into an agreement with Aberdeen Private Investors Limited("API") to purchase the investment management business operated by API for apurchase price calculated by reference to a formula based on those funds undermanagement that transfer, which is anticipated to be in the region of £200million. The total amount payable on the acquisition of the business isapproximately £5m, of which £3.4m will be payable in cash to API with thebalance representing the cost of incentive packages awarded to the managementteam of API, who will join BDS upon completion. Enquiries - Jamie MathesonExecutive Chairman0141 314 8149 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BRW.L