Sale of Brooks Macdonald International completed

Brooks Macdonald Group plc

Completes the sale of Brooks Macdonald International

to Canaccord Genuity Wealth Management Limited

24th February 2025

Following the announcement on 12 September 2024, Brooks Macdonald Group plc ("Brooks Macdonald", the "Group" or the "Company") is pleased to announce that it has completed the sale of Brooks Macdonald Asset Management (International) Limited ("BMI") to Canaccord Genuity Wealth (International) Holdings Limited ("Canaccord").

The initial consideration is £28m with a further contingent consideration of up to £22.85 million, payable in cash two years post-completion, subject to certain performance criteria being met. The sale proceeds will enable the Group to focus exclusively on the core UK business and will enhance its ability to capitalise on the structural opportunities within the UK market, to grow organically and through targeted M&A.

As at 31 December 2024, BMI had £2.3bn of Funds under Management ("FUM").

Brooks Macdonald's total pro forma FUM, excluding BMI was £15.7bn at 31 December 2024.

Andrea Montague, CEO of Brooks Macdonald, commented:

"The completion of the sale of BMI to Canaccord firmly establishes Brooks Macdonald as a UK wealth management firm focused on serving clients in the UK. The future of the international market business is in great hands with Canaccord who are well known and already have a strong local presence. I would like to thank BMI clients for the trust they have placed in Brooks Macdonald over the years and wish our former BMI colleagues all the best for the future."

 David Esfandi, Chief Executive Officer of Canaccord Genuity Wealth Management, commented:

"This acquisition is another step forward in our mission to become the best integrated wealth manager in the region by performance and service. With this investment, we increase our ability to serve the complex needs of international clients who have clear ambitions and need a trusted partner to help them achieve their goals."

Enquiries:

Investors

Brooks Macdonald Group plc  

Andrea Montague, CEO

Katherine Jones, CFO

Alexander Holcroft, Interim Director of Investor Relations

Phone: +44 (0)7418 923 061

Email: [email protected]

Singer Capital Markets (Nominated Adviser and Joint Broker)

Charles Leigh-Pemberton / James Moat

+44 (0)20 7496 3000

Investec Bank plc (Joint Broker)

Christopher Baird / David Anderson

+44 (0)20 7597 5970

Teneo (Media Enquiries)

Misha Bayliss

+44 (0) 20 74275465

Oscar Burnett

+44 (0) 20 74275435

Email: [email protected]

Notes to editors

About Brooks Macdonald

Brooks Macdonald Group plc is a leading provider of wealth management services in the UK.

Proudly serving clients since 1991 and trading on AIM since 2005, Brooks Macdonald is independent, financially strong, and aims to deliver strong and consistent investment performance for clients to meet their financial objectives. The company's broad and diverse product range means that clients get solutions made just for them and allows Brooks Macdonald to support clients throughout their entire lives as needs and circumstances change. The company is recognised as an innovator in the industry having been amongst the first to develop and launch key products such as Managed Portfolio Service (MPS) and bespoke income solutions.

On 15 January 2025, the Group announced its intention to move its listing from AIM to the Main Market of the London Stock Exchange, which is expected to occur in March 2025.

Realising Ambitions. Securing Futures. We are Brooks Macdonald.

Forward-looking statements

This announcement may include statements, beliefs or opinions that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "targets", "aims", "continues", "expects", "intends", "hopes", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. No representation or warranty is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements contained in the announcement speak only as of their respective dates, reflect Brooks Macdonald's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to Brooks Macdonald's business, results of operations, financial position, liquidity, prospects, growth and strategies.

Except as required by any applicable law or regulation, Brooks Macdonald expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement or any other forward-looking statements it may make whether as a result of new information, future developments or otherwise.

LEI: 213800WRDF8LB8MIEX37

www.brooksmacdonald.com / @BrooksMacdonald