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 Volatility spike: How ETFs can soften the blow

Volatility spike: How ETFs can soften the blow

ETFGI’s Deborah Fuhr discusses the role of ETFs in client portfolios during volatile market conditions

Play Winter market warmers, the post QE world and timing the Fed

Winter market warmers, the post QE world and timing the Fed

This week’s episode of Investment Pulse looks at the winding down of quantitative easing, whether to try and time a US Federal Reserve rate rise and if strong seasonal performers can reverse recent market slumps

Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Wealth Manager on Twitter