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Trading update and Director's declaration

10 Sep 2010 07:00

RNS Number : 4630S
Arden Partners plc
10 September 2010
 



Arden Partners plc ("Arden" or the "Company")

Trading update and Director's declaration

 

Since our interim announcement on 22 June 2010, the equity trading environment has been challenging. The corporate finance pipeline remains satisfactory although, as always, the timing of transactions is uncertain. In addition, in recent months the Company has taken action to reduce headcount and overhead expenses and this has resulted in exceptional termination costs.

 

In view of the above, it is now unlikely that the Company will meet market expectations for the year ending 31st October 2010.

 

Over the last few months the Company has increased its number of corporate clients to 41.

 

Following receipt of regulatory approval, Jeremy Grime has now been appointed a director and has assumed full responsibility for the Company as Chief Executive Officer. Jonathan Keeling has been formally appointed to the role of deputy Chairman allowing him in particular to focus on his responsibility to grow Arden's Indian franchise where we have further potential pipeline opportunities.

 

Enquiries:

Arden Partners plc

0207 614 5900

Jeremy Grime - Chief Executive Officer

Trevor Norris - Group Finance Director

Altium - NOMAD to Arden Partners plc

0207 484 4040

Phil Adams

Sam Fuller

Buchanan Communications

0207 466 5000

Mark Edwards

 

FURTHER INFORMATION ON JEREMY GRIME:

 

Jeremy Peter Grime (45) is currently a Director of The Classic Pub Company Limited.

 

Save as set out above, Jeremy has confirmed that there is nothing further to disclose in relation to his appointment to the Board of Arden under Schedule Two, paragraph (g) of the AIM Rules for Companies.

 

Jeremy Grime holds 158,266 ordinary shares of 10 pence each in the Company, representing approximately 0.6 per cent of the Company's issued share capital.

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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