3rd Jun 2008 14:39
AIM: AMBR
Ambrian Capital plc
Result of Annual General Meeting
Ambrian Capital plc ("Ambrian Capital" or "the Company") announces that at its Annual General Meeting held today all resolutions were passed.
Lawrence Banks, Chairman of Ambrian Capital, updated shareholders with the following statement:
"Despite the challenging market conditions we expect our Investment Banking activities to report revenues for the first half of 2008 broadly in line with the first half of 2007. Whilst our corporate finance and stockbroking business has not been immune from the general uncertainties in the equities market, we benefited during the first half of 2008 from our focus on the natural resources sector and growing trading volumes in our commodities business. We took the opportunity during the first half of 2008 to invest in additional professional staff and office space to further strengthen our market leadership in the natural resources sector.
Results from the Investment Portfolio will depend on market values at the end of June 2008. Up to the end of May, however, the value of the Investment Portfolio had been adversely affected by reductions since 1 January 2008 in the market values of our holdings in Golden Prospect Precious Metals Limited and Minerva Resources plc, but this has been offset in part by gains in other of our investments.
Since the beginning of the year we have taken opportunities to realise for cash over £5 million of our Investment Portfolio so carrying on our policy of moving from our historic base as an investment company to one based on operating businesses.
Our commitment to the resources sector and balance sheet strength provide opportunities to profit from the current market uncertainties."
Enquiries
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Tom Gaffney |
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Chief Executive, Ambrian Capital plc |
Tel: +44 (0) 20 7634 4700 |
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Hugh Field |
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Collins Stewart Europe |
Tel: +44 (0) 20 7523 8325 |
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Louise Goodeve / Justine Howarth |
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Parkgreen Communications |
Tel: +44 (0) 20 7851 7480 |
Notes to editors:
Ambrian Capital plc is an AIM listed (AIM: AMBR) specialist investment banking group focused on the mining, oil & gas, alternative energy and new technology sectors. Ambrian Capital plc provides corporate finance, stockbroking, commodity broking and investment management services to institutional and corporate clients. Ambrian Capital is also an active principal investor in the natural resources sector.
Ambrian Partners Limited, Ambrian Commodities Limited and Ambrian Asset Management are each authorised and regulated by the Financial Services Authority. Ambrian Partners Limited is a member of the London Stock Exchange and Ambrian Commodities Limited is an Associate Broker member of the London Metal Exchange.
For further information on Ambrian Capital, please visit: www.ambrian.com
Related Shares:
AMBR.L