Evolution ponders Panmure bid

Broker and fund manager Evolution Group says that it is considering a bid for AIM-quoted broker Panmure Gordon. Evolution says that a Panmure offer is one of a number of options under consideration. No formal discussions have taken place with Panmure. Evolution says it is waiting to assess Panmure's interim results which will be announced on 29 September. Panmure points out that revenues are skewed towards the second half so the interim figures may not be that informative. The Panmure board argues that its 46.8% shareholder QInvest is supportive of its strategy.