Walker Crips Group plc Sale of Fund Management Contract (4798Z)
March 15 2017 - 2:00AM
UK Regulatory
TIDMWCW
RNS Number : 4798Z
Walker Crips Group plc
15 March 2017
15 March 2017
WALKER CRIPS GROUP PLC
("Walker Crips" or the "Company")
Sale of Fund Management Contract
This announcement contains information which prior to its
disclosure was inside information for the purposes of the Market
Abuse Regulation.
Walker Crips, the financial services group, announces it has
entered into an agreement relating to the sale and transfer of its
fund management contract (the "Transfer") in connection with the TB
Walker Crips Corporate Bond Fund (the "Fund") to Smith &
Williamson Investment Management LLP ("SWIM LLP").
As part of the Company's continued focus on integrated wealth
management since the sale of its fund management related activities
in 2012, the Board of Walker Crips has concluded that management of
this Fund is no longer a core activity and is therefore being
transferred to a fund manager which has the requisite resource,
scale and track record to continue serving the Fund's investors
well. As a result of the Transfer, on Completion the Fund will be
renamed TB Riding House Street Fixed Interest Fund.
As at 28 February 2017, SWIM LLP managed some GBP1.3 billion in
its dedicated funds business across a number of investment
strategies.
FCA approval in connection with the Transfer has been received
and completion shall occur 5 days following written notification
being sent to underlying holders of the Fund ("Completion") which
is expected to be posted later today. Accordingly, Completion is
anticipated on Tuesday 21(st) March 2017.
For further information please contact:
Rodney FitzGerald, CEO Walker Crips Group plc +44 (0) 20 3100 8000
Rishi Zaveri Cantor Fitzgerald Europe +44 (0) 20 7894 7667
Media enquiries:
Walker Crips Group plc
Geri Jacks www.wcgplc.co.uk +44 (0) 20 3100 8000
Notes:
Neither the contents of the Company's website nor the contents
of any website accessible from hyperlinks on the Company's website
(or any other website) is incorporated into, or forms part of, this
announcement.
Forward-Looking Statements
This Announcement contains (or may contain) certain
forward-looking statements with respect to certain of the Company's
current expectations and projections about future events. These
statements, which sometimes use words such has "aim, "anticipate",
"believe", "intend", "plan", "estimate", "expect" and words of a
similar meaning, reflect the directors' beliefs and expectations
and involve a number of risks, uncertainties and assumptions that
could cause actual results and performance to differ materially
from any expected future results or performance expressed or
implied by the forward-looking statement. By their nature,
forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances. Statements
contained in this Announcement regarding past trends or activities
should not be taken as a representation that such trends or
activities will continue in the future. The information contained
in this Announcement is subject to change without notice and,
except as required by applicable law, neither the Company, nor any
member of its group, its Directors or its Financial Adviser assumes
any responsibility or obligation to update publicly or review any
of the forward-looking statements contained therein. Investors
should not place undue reliance on forward-looking statements,
which speak only as of the date of this Announcement. No statement
in this Announcement is or is intended to be a profit forecast or
to imply that the earnings of the Company for the current or future
financial years will necessarily match or exceed the historical or
published earnings of the Company.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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