AMBR.L Regulatory News (AMBR)

4 Apr 2008 09:32

Ambrian Capital PLC04 April 2008 4 April 2008 Ambrian Capital to Acquire Nabarro Wells Ambrian Capital plc (AIM: AMBR) announces today that it has acquired NabarroWells & Co. Limited ("Nabarro Wells"), an independent corporate finance firm,for cash. Nabarro Wells, based in London, provides corporate finance, mergersand acquisitions and nominated advisor services. The transaction has receivedchange of control approval from the Financial Services Authority. In the fiscal year to 31 March 2007, Nabarro Wells reported revenues of£4,394,884 and profit before tax, directors' emoluments and management chargesof £1,005,854. At 31 March 2007 Nabarro Wells had net assets of £483,496. The entire issued share capital of Nabarro Wells comprising 82,106 ordinaryshares is being acquired for a cash consideration of £821,060. In addition,£175,244 is being paid to cancel existing share options. "The acquisition of Nabarro Wells is an important step in our strategy to expandour corporate client list and reinforces our commitment to the natural resourcesand new technology sectors," said Tom Gaffney, Chief Executive of AmbrianCapital." Nabarro Wells will add 35 retained corporate clients, including 18clients in the natural resources sector with an aggregate market capitalisationof approximately £1.2 billion. The combined group will have a total of 70retained corporate clients which will make Ambrian the leading nominated advisorto the AIM Basic Materials sector and one of the top two in the AIM Oil & Gassector." The Nabarro Wells team of 12 will be integrated with the Ambrian PartnersCorporate Finance team under the leadership of Richard Brown, Head of CorporateFinance of Ambrian Partners. David Nabarro, founder and director of NabarroWells, has been invited to become a director of Ambrian Partners. The seniorexecutives of Nabarro Wells are bound by non-compete provisions and have enteredinto service agreements with Ambrian Partners which include performance relatedpayments. "We have built a very strong client base in the natural resources sector.However, we recognise that increasingly our clients require the expertise of alarger firm able to offer an integrated package of services including corporatefinance, corporate broking, capital raising, institutional sales, market makingand research", said David Nabarro. "It is a compelling combination. Ambrianhas built a leading franchise in the natural resources sector based on solidindustry expertise. The team at Ambrian includes geologists and miningengineers. Now we can deliver to our clients a wider range of services from oneof the most respected names in the natural resources sector in London." Enquiries: Tom Gaffney David Nabarro/Richard SwindellsChief Executive Officer DirectorsAmbrian Capital plc Nabarro Wells & Co. LimitedTel: +44 (0)20 7634 4784 Tel: +44 (0)20 7710 7400 Chris Howard Justine Howarth/Louise GoodeveCollins Stewart Europe Parkgreen CommunicationsTel: +44 (0)20 7523 8314 Tel: +44 (0)20 7851 7480 Notes to Editors: Ambrian Capital plc is an AIM listed specialist investment banking group focusedon the mining, oil & gas, alternative energy and new technology sectors.Ambrian Capital plc provides corporate finance, stockbroking, commodity brokingand investment management services to institutional and corporate clients.Ambrian Capital is also an active principal investor in the natural resourcessector. Ambrian Partners Limited, Ambrian Commodities Limited and Ambrian AssetManagement are each authorised and regulated by the Financial ServicesAuthority. Ambrian Partners Limited is a member of the London Stock Exchangeand Ambrian Commodities Limited is an Associate Broker member of the LondonMetal Exchange. For further information on Ambrian Capital, please visit; www.ambrian.com Nabarro Wells & Co. Limited was founded in 1990 by David Nabarro. Over the past18 years, the firm has become one of the leading corporate finance advisors tocompanies listed on the AIM market of the London Stock Exchange. Retainedcorporate finance clients include First Calgary Petroleum Limited, PlatinumAustralia Limited, Ithaca Energy Inc. and Applied Intellectual Capital. This information is provided by RNS The company news service from the London Stock Exchange