Completion of Disposal

RNS Number : 2293B

Cenkos Securities PLC

12 April 2012

 



 12 April 2012

Cenkos Securities plc ("Cenkos " or "the Company")

Completion of the sale of the controlling shareholding in Cenkos Channel Islands Limited ("CCIL").

Cenkos is pleased to confirm that further to the announcement made by the Company on 2 April 2012, in regards to the sale of 4 million ordinary shares in CCIL, representing 40 per cent of CCIL's issued share capital, this sale has today completed.

The total consideration received by the Company is £4,000,000 in cash. The proceeds from the disposal will be held for general working capital purposes, further strengthening Cenkos' balance sheet.

Following the disposal, Cenkos retains 10% of the issued share capital in CCIL as a trading investment, reflecting the fact that Cenkos will continue to work with CCIL on business referrals.

Enquiries:

Jim Durkin                                                                                                         020 7397 8900

Chief Executive Officer

Cenkos Securities plc

David Rydell/Duncan Mayall

Pelham Bell Pottinger                                                                                   020 7861 3232

Nic Hellyer

HSBC (Nomad)                                                                                                 020 7991 8888

 

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