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Consolidated Asset Management

  • BY: Andrew Hore |
  • POSTED: 13/07/2009 |

Consolidated Asset Management says that the disposal of Throgmorton Asset Management will provide a firm foundation on which to build up the group.

This disposal follows the sale of Throgmorton Financial Services. Enderby, Leicester-based TAM was originally acquired in September 2007 for 1.2m in cash and 405,000 in shares at 13.5p each. TAM is being sold for 1 with a further 50,000 depending on pre-interest profit over the next 12 months. There will also be additional consideration payable based on quarterly revenues over the next five years.

TAM lost 14,000 on revenues of 1.13m in 2008.

Shares in CAM slumped 0.25p to 0.375p each, which values the company at 1.12m. 

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