Somers Limited Agree To Sell Stockdale Holding
Somers Limited has agreed the conditional sale of its 55% holding in Stockdale Securities to Shore Capital Markets Limited.
The filing with the BSX stated, “Somers Limited, a financial services investment holding company, is pleased to announce that it has agreed the conditional sale of its 55% holding in Stockdale Securities Limited [“Stockdale”], to Shore Capital Markets Limited [“Shore Capital”], an AIM quoted independent investment group, for an initial consideration of £2.7 million and a maximum deferred consideration of up £2.2 million. Completion of the sale is conditional upon the UK’s Financial Conduct Authority’s consent to the change of control of Stockdale.
Warren McLeland, Somers’ Chairman commented: “Somers has been the majority shareholder in Stockdale for a number of years. During that time, it has developed into a sustainable and profitable business. We wish Stockdale success in the future as part of the Shore Capital group.”
