News blog

Evolve Capital / Peterhouse

• BY: Andrew Hore |
• POSTED: 19/12/2012 |

Investment company Evolve Capital is transferring its ISDX advisory business St Helens to Peterhouse Corporate Finance and leaving Aim.

Peterhouse will take on the clients and staff of St Helens. No other assets or liabilities will be taken on but the staff costs could be significant. The combined business will be the largest ISDX adviser.

Uncertainty over the future of Plus Markets, now ISDX, hit the performance of St Helens. In 2011, revenues were £492,000 and the reported loss was £106,000 – including amortisation/impairment of £69,000).

Evolve will take a 9.9% stake in Peterhouse, where management acquired a 50.1% stake from Rivington Street in July for £300,000 in cash.

A meeting will be held on 8 January to gain shareholder approval for the proposals.

At 0.28p a share, down 0.075p, Evolve is valued at £840,000. Net asset value was £4.31m at the end of June 2012, with investments worth £1.2m, and it is likely to be lower now.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2012_39.pdf