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Brewin Dolphin Hldgs (BRW)

  Print          Annual reports

Tuesday 07 May, 2002

Brewin Dolphin Hldgs


Brewin Dolphin Holdings PLC
7 May 2002

7 May 2002


Brewin Dolphin Holdings PLC, one of the UK's leading portfolio managers and
stockbrokers, through its subsidiary Brewin Dolphin Securities Limited, has
agreed to acquire the business and fixed assets of Popes, the well established
Stoke on Trent stockbroking partnership. Completion of the acquisition is
scheduled for late June 2002.

The initial consideration is £2.6 million payable in cash, of which £1.2 million
must be used by the vendors to subscribe for 1,302,084 fully paid 1p ordinary
shares in Brewin Dolphin Holdings PLC. Subject to the performance of the
business over the next three financial years commencing 1st October 2002, the
vendors will be entitled to further consideration of up to £6 million payable in
cash or, at the option of Brewin Dolphin Holdings PLC, in fully paid 1p ordinary
shares in Brewin Dolphin Holdings PLC.

Popes, which is a member of the London Stock Exchange, was established in Stoke
on Trent in 1870 and opened a branch office in Hull in 1999. The firm has an
annual turnover of some £2.6 million.

Geoffrey Snow, Senior Partner of Popes, commented 'Becoming part of a larger
group will have significant benefits for our clients. Our existing business fits
very well with that of Brewin Dolphin and the combination of our two firms
creates a powerful operation capable of meeting the growing demands for private
client stockbroking services.'

John Hall, Managing Director of Brewin Dolphin Holdings PLC said 'I am delighted
that the partners of Popes have decided to join us and look forward to welcoming
them and their clients to the group. Popes is a well established and highly
regarded firm in Stoke on Trent and it will strengthen our existing operations
in the Midlands.'

For further information please contact:

John Hall                                                        Patrick Donovan

Managing Director                                              Managing Director

Brewin Dolphin Holdings PLC                               Citigate Dewe Rogerson

Tel: 020 7248 4400                                               Sarah Gestetner

                                                              Associate Director

                                                          Citigate Dewe Rogerson

                                                             Tel: 020 7638 9571

Notes to Editors

Brewin Dolphin Securities Limited ('BDS') is the principal operating company of
Brewin Dolphin Holdings PLC which is listed on the London Stock Exchange. BDS is
regulated by the Financial Services Authority and is a member of the London
Stock Exchange.

BDS is one of the UK's leading private client Portfolio Managers and
Stockbrokers with £17 billion of funds under management, 32 offices nationwide
and 153 corporate clients.

BDS combines national expertise with local knowledge and trades as:

Brewin Dolphin in England, Wales and the Channel Islands

Bell Lawrie White in Scotland

Hill Osborne in the East Midlands

Wise Speke in the North of England

Stocktrade is the BDS Execution-Only division

Please see Media Section on for details and photos of
all commentators and analysts throughout the BDS Group.

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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