Quayle Munro Holdings PLC Proposed reorganisation of the Group (5750I)
2012年7月26日 - 6:31PM
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RNS Number : 5750I
Quayle Munro Holdings PLC
26 July 2012
26 July 2012
Quayle Munro Holdings PLC ("Quayle Munro" or the "Group")
Proposed reorganisation of the Group's Edinburgh-based
activities
and Directorate Change
Quayle Munro today announces that following a comprehensive
review of the Group's operations, the Board of Directors has taken
the decision to focus the Group's activities on its successful
London-based corporate finance business, having concluded that
Quayle Munro's Edinburgh-based business is no longer core to the
Group's operations and is not viable in its current structure.
As part of this restructuring, the Board is pleased to confirm
that it has agreed in principle the terms on which certain members
of the senior management will participate in a management buy-out
of Quayle Munro's Edinburgh-based project advisory business. Should
the transaction complete as expected, Quayle Munro will retain a
minority shareholding in the new company.
Further details and the terms of the proposed transaction will
be provided in due course.
It is also announced that Rob Cormie, an executive director of
Quayle Munro, yesterday resigned from the Board and left the Group.
Rob joined Quayle Munro in 2008 and became an Executive Director in
2010, based in the Edinburgh office. During this time he
established and built a successful renewable energy practice. Rob
wishes to pursue a number of commercial opportunities in the
renewable sector, the first of which is to establish his own
advisory firm, Edinburgh Advisers LLP.
Andrew Adams, Chief Executive of Quayle Munro Holdings PLC,
commenting on these developments said:
"The proposed sale of our project advisory business to the
management team is a positive development for Quayle Munro. We will
now have a sharper focus to our corporate finance business, with a
lower cost base, and we are optimistic about the prospects in this
area. Quayle Munro is pleased to retain a minority interest in the
project advisory business.
"We wish Rob well with his new business and in the pursuit of
other renewable energy opportunities and thank him for his
contribution to Quayle Munro over the past 4 years."
- Ends -
For more information:
Smithfield Consultants +44 (0)20 7903 0660
John Kiely
This information is provided by RNS
The company news service from the London Stock Exchange
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