Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter