Business
Disposal of Entire Stake in Randall & Quilter
Disposal of Entire Stake in Randall & Quilter.
About this update from B.p. Marsh & Partners Plc
[{"type":"text","content":"\n \nRNS Number : 2794X B.P. Marsh & Partners PLC 04 May 2016 \n\nDate: 4th May 2016\nOn behalf of: B.P. Marsh & Partners Plc\nImmediate release\nB.P. Marsh & Partners Plc\n(\"B.P. Marsh\" or \"the Company\")\nDisposal of Entire Stake in Randall & Quilter\n \nB.P. Marsh & Partners Plc (AIM: BPM), the niche venture capital provider to early stage financial services businesses, can now announce that it has sold its 1.32% stake in Randall & Quilter Investment Holdings (\"R&Q\") to Brian Marsh Enterprises Limited for consideration of £1,020,000. Brian Marsh Enterprises Limited is owned by Brian Marsh, Chairman and majority shareholder of the Company.\n \nThis transaction results in a realised gain for the Company of £247,000 on the investment as compared to the latest booked value of £773,000 (yet to be audited and published) which was the carrying value at 31st January 2016.\n \nThe Company's shareholding in R&Q originated in 2010 after R&Q bought the Company's stake in JMD Specialist Insurance Services Limited. The Directors believe that the R&Q investment is a non-core holding for the Group, being the only listed investment and one in which the Group's usual minority shareholder protections do not apply. They therefore take the view that this is a good opportunity to sell the investment and that the realised funds will be better utilised in more typical opportunities in which the Group can add value.\n \n \nFor further information:\n \nB.P. Marsh & Partners Plc www.bpmarsh.co.uk\nBrian Marsh OBE / Camilla Kenyon &nb...