Disposal

RNS Number : 6915M

Rathbone Brothers PLC

03 February 2009

 



Rathbone Brothers Plc ('Rathbones')

Disposals

Rathbones is pleased to announce that on 30 January 2009 agreement was reached (subject to satisfaction of certain conditions including, among others, the approval of the Monetary Authority of Singapore) for the sale of Rathbone Trust (Singapore) Pte Limited to STI Global Limited, a company established by the local management of Rathbone Trust (Singapore) Pte Limited. It is expected that completion will take place on 31 March 2009. The gross assets of the business being disposed of were £0.5m at 31 December 2008.

A non-binding heads of agreement has also been signed in respect of the sale of Rathbone Trust Company (BVI) Limited to management. It is estimated that the gross assets of the business on disposal will be £0.5m.

Negotiations are continuing regarding the sale of Rathbone Trust Company SA in Geneva to its management.

Richard Loader

Company Secretary

 

END

 

 

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