11th Oct 2006 07:01
Rensburg Sheppards plc11 October 2006 11 October 2006 RENSBURG SHEPPARDS PLC ('RENSBURG SHEPPARDS' OR 'THE COMPANY') TRADING UPDATE COMPLETION OF INTEGRATION OF CARR SHEPPARDS CROSTHWAITE LIMITED ('CSC') In the Company's results for the period to 31 March 2006 it was reported thatthe integration of CSC was well advanced. The Company is pleased to announcethat the final stage of the integration, the consolidation of the two settlementfunctions, was completed on 30 September 2006. The integration was the largest of its kind undertaken by a UK private clientinvestment manager and involved a series of stages. Charging structures werealigned onto a common rate card on 1 December 2005 which improved the quality ofour income by increasing the percentage of total income represented by fees.Later that month Rensburg Investment Management Limited ('RIM') migrated toshare a common operating platform with CSC. The combination of the two operating companies RIM and CSC into the single legalentity and brand of Rensburg Sheppards Investment Management Limited, occurredon 1 February 2006. Subsequent to this the central functions have been merged,information technology systems integrated and the alignment of employeeremuneration structures has been decided. Mike Burns, Chief Executive, commented: "The completion of this project marks an important stage in the development ofRensburg Sheppards and provides a robust platform to support future growth bothorganically and through acquisitions. I would like to re-iterate my thanks toour clients for their continuing patience, understanding and support during thisperiod. I would also like to express my gratitude to our employees who worked tirelesslyon this project and demonstrated commitment and professionalism throughout. Thistransition would not have been possible without their continued dedication andhard work." The Company expects to announce its results for the six months ending 30September 2006 on 14 November 2006. Trading conditions remain satisfactory andthe Company expects to deliver results in line with the Directors' expectations. Ends For further information, please contact: Michael Burns, Chief Executive Tel: 0151 227 2030Rensburg Sheppards plc Nick Lyon Tel: 020 7796 4133Hudson Sandler This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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