Walker Crips profits from sale of Liontrust stock

Walker Crips has reduced its exposure to Liontrust, converting and selling a proportion of the stock it obtained as part of the sale of its asset management arm last year.

Walker Crips profits from sale of Liontrust stock


The firm has raised £1.58m by converting £900,000 into ordinary shares valued at 1p each, and then selling them at £1.75. It leaves them with £3.1m in convertible unsecured loan stock (CULS).

The deal, which was completed last year, was worth £12.3m and saw four retail funds and two segregated mandates transferred to the buyer. The funds had an aggregate £604m under management.

Rodney FitzGerald, CEO of Walker Crips, said: “The opportunity to convert and sell the shares at a price materially above their conversion prive allowed us to lock in some profit and to trim our exposure to Liontrust. The net proceeds of the sale will be used to drive our continuing strategy of growth and expanision.”


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