CIN.L Regulatory News (CIN)

8 Feb 2008 07:00

Arc Fund Management Holdings PLC08 February 2008 For Immediate Release 8 February 2008 ARC FUND MANAGEMENT HOLDINGS PLC CITY OF LONDON GROUP PLC TAKES 12% STAKE Arc Fund Management Holdings plc ("Arc" or "the Company"; AIM: AFM), theexpanding investment management boutique, is pleased to announce that City ofLondon Group has bought 15,875,000 existing Ordinary Shares in the Companyrepresenting 12% of Arc's issued share capital. Arc, the AIM-listed investment management and financial advisory company, has£410m under management/advice. In December 2007 it announced a £3million placingincluding an investment of £2.1million by Mayfair Limited a company controlledby Lord Ashcroft and last month it acquired Independent Investment AssociatesLimited ("IIA"), an independent financial advisory company based in Cumbria,with some £150m funds under advice. Christopher Rowe, Arc's Chief Executive, commented "Arc is delighted to have the support of the City of London Group and, ofcourse, Lord Ashcroft over such a short period of time. The Board believes thisis a clear indication of the potential of the business and its business plan. As previously stated, we will grow the Group, both in the UK and overseas,through both the application of internal expertise and by making a series ofstrategic acquisitions." For further information please contact:- Arc Fund Management Holdings plc 020 7623 3345Christopher Rowe, Chief Executive OfficerJohn Gracey, Finance Director Beaumont Cornish Limited 0207 628 3396Roland Cornish Fiske plc 0207 448 4700Clive Harrison Bankside ConsultantsSimon Astley 020 7367 8888 Mobile: 07798 558287 Notes to Editors Arc Fund Management Holdings plc Arc Fund Management Holdings plc is an established fund management group,combining fund management and corporate finance expertise, specialising in fundswhich invest in early stage private companies. Arc Fund Management is the principal operating company of the group and has aparticular focus on the management of tax efficient funds including EISs, VCTsand its European property OEIC. Arc was elected a Member of the London Stock Exchange as of the 28th August 2007. The Company currently has assets of £410m under management and was listed on AIM(Company symbol: AFM) in July 2006. Independent Investment Associates Independent Investment Associates Limited was established in 2002 to offerbespoke financial planning advice to small businesses and high net worthindividuals. The company, utilising a strong network of local professionals, such assolicitors and accountants, as introducers provides its clients with tailoredsolutions, particularly in niche areas such as trusts, to help them achievefinancial independence. With an estimated £150m under advice currently IIA's aim is to build the fundsunder advice by both offering a premier service and attracting further mandates. This information is provided by RNS The company news service from the London Stock Exchange