Update on Press Speculation
10 Dezembro 2010 - 4:33PM
UK Regulatory
TIDMCLKH
RNS Number : 7924X
Moneygate Group Limited
10 December 2010
Moneygate Group Limited
("Moneygate" or the "Company")
Update on Press Speculation
Further to recent press speculation, Moneygate today confirms that it is in
talks with The Clarkson Hill Group plc ("Clarkson Hill") (EPIC:CLKH) and over
the past 3 months has been conducting due diligence on Clarkson Hill, with a
view to making an offer for its ordinary shares.
However, the directors of Moneygate are aware of Clarkson Hill's recent
announcement, dated 6 December 2010, pursuant to which Clarkson Hill confirmed
that its regulatory permissions have been varied and as a result, that Clarkson
Hill was unable to undertake any regulated activities from 5 pm on 3 December
2010. The variation of Clarkson Hill's regulatory permissions has meant that
Moneygate is now reviewing its position. Moneygate has made a number of attempts
to talk with the directors of Clarkson Hill over the past two weeks in order to
ascertain the current position but, unfortunately, they have yet to re-engage in
constructive discussions.
The directors of Moneygate have a great deal of sympathy for advisers, staff and
clients of Clarkson Hill who they believe will be keen to know what the
immediate future holds for them.
Moneygate's management are receiving many calls and emails from Clarkson Hill
advisers seeking information. Unfortunately, Moneygate is not currently in a
position to answer these queries other than to confirm that it has made an
application to the FSA for consent to take a bulk transfer of Clarkson Hill's
advisers. Any further updates will be provided as appropriate.
For enquiries please contact:
Lee Hartley, Moneygate Group Limited 0845
6050690
This information is provided by RNS
The company news service from the London Stock Exchange
END
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