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UPDATE: Arden Partners Eyes Indian Promise As CEO Steps Down

Tue, 22nd Jun 2010 11:44

(Adds executive comments, analyst comments and share price.) By Rachael Gormley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Stockbrokers Arden Partners PLC (ARDN.LN) Tuesday increased its focus on the burgeoning Indian market, as Chief Executive Officer Jonathan Keeling announced plans to become deputy chairman in order to concentrate on developing the company's franchise in the sub-continent, citing "immense demand." Keeling told Dow Jones Newswires there is "huge interest" in the London market from India and said it has an initial public offering from a "decent sized" Indian support services company that he hopes will complete in the second half. The company said Jeremy Grime from Arden's financials team has been appointed CEO-designate with immediate effect and will take on the role fully before the end of 2010, subject to regulatory approval. The stockbroker reported an "encouraging" first half, with revenue increasing 41% and the pretax loss narrowing slightly, and said it was well placed for growth and profitability from both the U.K. and Indian markets. "I'm reasonably optimistic about the second half, as we've got a significant pipeline of corporate transactions," Keeling said. "So long as the markets are ok, our pipeline will be delivered." For the six months ended April 30 Arden posted a pretax loss of GBP240,000 compared with a pretax loss of GBP278,000 in the same period a year earlier. The company invested in extra staff during the period, Arden said. Revenue increased to GBP6.5 million from GBP4.6 million while net assets rose to GBP12.3 million from GBP10.3 million. The company won't be paying an interim dividend. Altium analysts kept a "hold" rating and a 110 pence target price on the company following the results, saying that while Arden's corporate finance pipeline is strong, uncertainty over market conditions continues to push back mandates to later periods. At 1038 GMT, shares flat at 88.5 pence, while the wider FTSE AIM index was down 0.5%. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires June 22, 2010 06:44 ET (10:44 GMT)
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18 Feb 2014 11:14

DIRECTOR DEALINGS: Arden Partners Deputy Chairman Sells 25,000 Shares

LONDON (Alliance News) - Arden Partners PLC Tuesday said Deputy Chairman Jonathan Keeling sold 25,000 shares at a price of 95 pence per share Monday. Following this transaction, Keeling holds 2.5 million shares, which represents 11.20% stake in the firm. Shares in the stock brokerage

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14 Jan 2014 11:45

Arden Partners Profit Up; Corporate Finance Makes Up Equities Unit Decline

LONDON (Alliance News) - Arden Partners PLC Tuesday said its pretax profit rose sharply in its last financial year, buoyed by the GBP238 million it raised for clients and the eleven corporate transactions it carried out. The institutional stockbroker said it made a GBP1.3 million pretax pro

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1 Nov 2013 16:08

Advanced Computer Software Chairman trades in 1m shares

The Chairman of Advanced Computer Software this week sliced off 870,380 pounds-worth of shares from his stake, reducing it to 2.42m, the group announced after the close on Thursday. Michael Jackson disposed of exactly 1m shares in the healthcare and business management software, and said he made t

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1 Nov 2013 13:10

DIRECTOR DEALINGS: Arden Deputy Chairman Buys 25,000 Shares

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28 Oct 2013 17:53

Longreach Oil And Gas Limited To Begin Listing On AIM On November 11

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1 May 2013 15:59

Carphone Warehouse heads partake in placing to fund acquisition

The Chairman, Chief Executive, and Chief Financial Officer (CFO) of mobile phones retailer Carphone Warehouse have all purchased shares as part of a placing, the proceeds of which are being used in part to fund the proposed acquisition of the remaining 50 per cent stake in CPW Europe. Sir Charles

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5 Nov 2012 16:47

Telecity chief shows faith in the company

Telecity's Chief Executive Officer has bought shares in the company in a bid to show his confidence in the company's new Finnish acquisition, which on Monday proved decidedly unpopular, with shares dropping almost nine per cent. Michael Tobin made the modest purchase of 2,000 at 843.60p. The £16,8

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20 Jul 2012 16:20

Arden Partners COO buys shares after disappointing results

Steve Wassell, the Chief Operating Officer of stockbroker Arden Partners, purchased 195,000 in the stockbroker through his self-invested personal pension on Thursday. Wassell bought the shares at 43.50p each for a total of £84,825, increasing his stake in the company to 373,743 shares, equal to aro

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16 May 2012 15:18

Small caps round-up: Sepura, ReNeuron, Angel Bio ...

Sepura, the developer and supplier of TETRA digital radios, has acquired 3T Communications, a supplier of TETRA infrastructure, for an initial cash consideration of 8m euros. The final price could increase by up to 5m euros, depending on 3T's trading performance. Austrian firm 3T designs and impleme

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21 Dec 2011 08:18

Arden Partners moves into pre-tax profit

Stockbroker Arden Partners reported a pre-tax profit compared to a loss a year earlier despite challenging market conditions. Profit before tax came in at £0.6m for the year ended 31 October 2011 from a loss of £0.5m a year earlier. Revenue fell to £12.4m from £13m previously. Underlying profit be

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15 Jun 2011 06:31

Wednesday tips round-up: Oxford Instruments, UK Coal, ENRC

Analysts have been known to complain mildly about the slow progress of Oxford Instruments in finding promised acquisitions. The maker of high-tech analytical devices announced two yesterday, and the slow pace seems understandable. Such acquisitions are tricky, being more about providing a sympatheti

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17 May 2011 14:42

Arden expects profits to be well ahead

Shares in Arden Partners were given a boost after the stockbroker reported a strong first half performance from both its core UK business and Indian franchise. The company said that if it continues to trade at current levels - "and assuming the pipeline can be delivered" - it expects full-year pre-

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18 Jan 2011 15:04

Arden boosted by late corporate deals

AIM-quoted broker Arden Partners reported a loss in the year to October 2010 but it is still making an underlying profit. A couple of significant fundraisings late in the period helped to grow corporate finance revenues but secondary share trading income fell by 29%. Overall revenues were flat a

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12 Nov 2010 16:49

BG boss raises more than £1m

BG Group chief executive Frank Chapman has raised more than £1m by selling shares in the oil and gas explorer and producer. Chapman sold 85,000 shares at £12.80 each, which leaves him with 1.91m shares in BG, which was spun out of British Gas in 1997. Chapman has been chief executive for 10 year

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2 Nov 2010 14:25

Small caps round-up: Software Radio, Providence, Arden...

Software Radio Technology, the developer and supplier of maritime identification and tracking technologies, returned to the black at the halfway point as turnover virtually doubled. Profit before tax in the six months to 30 September was £1.1m on turnover of £4.42m, compared to a loss of £0.20m las

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