Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Walker Crips investors to reap rewards after Liontrust shares sale

Walker Crips investors to reap rewards after Liontrust shares sale

Walker Crips Group has disposed of its entire holding of Liontrust shares in order to pay investors a special dividend.

Following the £12 million sale of its asset management business to Liontrust, Walker Crips picked up 1,851,719 ordinary Liontrust shares.  Today it announced it had sold its entire holding, raising approximately £1.66 million.

'The board is pleased to announce the net proceeds of the sale of the Liontrust shares are to be distributed to shareholders pro rata to their holdings of Walker Crips shares,' Walker Crips said.

The firm raised roughly £12 million via the disposal of its investment management arm two months ago - a sale which saw two of its high profile fund managers Jan Luthman and Stephen Bailey depart from the firm.

As outlined in its results, Walker Crips wants to focus on its core wealth management business and recently brought over a six-strong team from Savoy, a subsidiary of Ashcourt Rowan, to help with this process.

Based on the 37,063,187 Walker Crips ordinary shares of 6 2/3p in issue at close of business on 22 June 2012, the special dividend paid to investors will equate to 4.5p per ordinary share.

The special dividend will be paid on 3 August 2012 as an additional interim dividend.

David Gelber, chair of Walker Crips, said he was pleased shareholders would be able to benefit directly from the April sale of the firm's asset management business.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play From Private Bank to Private Office: the next generation of ultra high net worth investors

From Private Bank to Private Office: the next generation of ultra high net worth investors

Citywire's Anna Dumas highlights the trend towards private and family offices.

Play Inside ETFs: how to defend against bond volatility

Inside ETFs: how to defend against bond volatility

In this latest episode we call in experts from 7IM and Markit to assess how the bond sell-off has impacted ETFs.

Play The future of wealth management according to disruptive tech expert Andrew Tarver

The future of wealth management according to disruptive tech expert Andrew Tarver

Three private office investors direct their questions about the future of wealth management, to Andrew Tarver, founder of Boldrocket and disruptive tech expert.

Your Business: Cover Star Club

Profile: Stenham's CIO on the strange persistence of hedge funds

Profile: Stenham's CIO on the strange persistence of hedge funds

Stenham Asset Management chief investment officer Kevin Arenson believes hedge funds are making a comeback

Wealth Manager on Twitter