MHG Merchant Hse

TIDMMHG

RNS Number : 0764Z

Merchant House Group PLC

09 March 2012

9 March 2012

Merchant House Group plc

("MHG" or the "Group")

Further re: Pritchard Stockbrokers Limited

Further to the announcements made by the Group on 13 & 16 February 2012 regarding Pritchard Stockbrokers Limited ("Pritchard"), the board of MHG wishes to inform shareholders of the following update in respect of the transfer of assets of clients of Merchant Capital Limited ("MCL"), the FSA-regulated wholly-owned subsidiary of the Group, from Pritchard to Reyker Securities plc ("Reyker"), the recently appointed custodian to MCL.

- 100% of the non-cash assets belonging to clients of MCL, with a total value of approximately GBP310m, have now been transferred to Reyker.

- Cash monies held by Pritchard in respect of clients of MCL remain subject to the first supervisory notice issued by the Financial Services Authority ("FSA") on 10 February 2012 and may therefore not be released without written authority from the FSA.

Further announcements will be issued in due course.

For further information:

 
 Merchant House Group plc 
  James Holmes, Chairman 
  Christopher Day, CEO                  +44 (0) 20 7332 2200 
 Cairn Financial Advisers LLP 
  Liam Murray / Avi Robinson            +44 (0) 20 7148 7900 
 Symvan Securities 
  Kealan Doyle / Nicholas Nicolaides    +44 (0) 20 7464 4260 
 CityRoad Communications 
  Paul Quade                            +44 (0) 207 248 8010 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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