Conversion of convertible unsecured loan stock

RNS Number : 0845Z

Walker Crips Group plc

04 March 2013

4 March 2013

Walker Crips Group plc

Conversion of convertible unsecured loan stock

Walker Crips Group plc ("Walker Crips" or the "Company"), the financial services group, announces that it has converted £0.9 million of the £4.0 million in Convertible Unsecured Loan Stock ("CULS") issued to it by Liontrust Asset Management plc ("Liontrust") in part consideration for its acquisition of Walker Crips Asset Managers Limited (the "Conversion").

The CULS convert into ordinary shares of 1 pence each in the capital of Liontrust ("Shares") on the basis of one Share for each £1 in nominal value of CULS. The 900,000 Shares subsequently issued and allotted to the Company as a result of the conversion have been sold at a price of 175 pence per Share.

Commenting, Rodney FitzGerald, CEO of Walker Crips, said:

"The opportunity to convert and sell the Shares at a price materially above their conversion price allowed us to lock in some profit and to trim our exposure to Liontrust. The net proceeds of the sale of the Shares will be used to drive our continuing strategy of growth and expansion."

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