Frenkel Topping Group PLC
27 July 2005
FRENKEL TOPPING GROUP PLC
The Board of Frenkel Topping Group Plc ('the Company') are pleased to announce
that on Friday 22nd July they disposed of 16% of the issued share capital of
each of Frenkel Topping Limited and Frenkel Topping Structured Settlements
Limited for the gross cash sum of £551,000 in order to provide additional
working capital for the Company. The Company is left with a shareholding of
approximately 67% of the issued share capital of each of these two companies.
For the financial year ended 31 December 2004, Frenkel Topping Limited ('FTL')
made an operating profit of £379,807 and Frenkel Topping Structured Settlements
Limited ('FTSSL') an operating loss of £585,895. Accordingly, the 16% stake
disposed of equates to an operating profit of £60,769.12 for FTL and an
operating loss of £93,743.20 for FTSSL. Frenkel Topping Limited is an
independent financial adviser specialising in the investment of personal injury
awards. Frenkel Topping Structured Settlements Limited specialises in the
design and use of structured settlements to personal injury litigation now known
as Periodical Payments following the introduction of the Courts Act on the
1/4/05.
The proceeds of sale of the share stake will be used to pay the costs of
disposal and the balance will be used for working capital.
For further information, please contact:-
Richard Fraser Frenkel Topping Group plc Tel: 0161 886 8000
This information is provided by RNS
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