News blog
Panmure Gordon
- BY: Andrew Hore |
- POSTED: 30/11/2011 |
Aim adviser Panmure Gordon says that Tim Linacre will step down as chief executive before the end of 2012.
He wants to stay on with Panmure and concentrate on client work. This comes at a time when Panmure has revealed that it will fall short of expectations for 2011.
The share price fell 2.5p to 11p, which values Panmure at £16.3m.
Panmure believes that a number of deals have been deferred and they certainly will not happen during 2011. This means that there will be a loss in the second half even before writing down its stake in Loudwater Trust Ltd and other intangible assets.
Linacre owns 139,240 Panmure shares and has an option over 2.47m held by the company’s employee benefit trust, which can be exercised at 4p a share. He also holds 872,731 performance share options also exercisable at 4p a share.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2011_26.pdf
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