Frenkel Topping Regulatory News (FEN)

27 Jul 2005 16:20

Frenkel Topping Group PLC27 July 2005 FRENKEL TOPPING GROUP PLC The Board of Frenkel Topping Group Plc ("the Company") are pleased to announcethat on Friday 22nd July they disposed of 16% of the issued share capital ofeach of Frenkel Topping Limited and Frenkel Topping Structured SettlementsLimited for the gross cash sum of £551,000 in order to provide additionalworking capital for the Company. The Company is left with a shareholding ofapproximately 67% of the issued share capital of each of these two companies.For the financial year ended 31 December 2004, Frenkel Topping Limited ("FTL")made an operating profit of £379,807 and Frenkel Topping Structured SettlementsLimited ("FTSSL") an operating loss of £585,895. Accordingly, the 16% stakedisposed of equates to an operating profit of £60,769.12 for FTL and anoperating loss of £93,743.20 for FTSSL. Frenkel Topping Limited is anindependent financial adviser specialising in the investment of personal injuryawards. Frenkel Topping Structured Settlements Limited specialises in thedesign and use of structured settlements to personal injury litigation now knownas Periodical Payments following the introduction of the Courts Act on the 1/4/05. The proceeds of sale of the share stake will be used to pay the costs ofdisposal and the balance will be used for working capital. For further information, please contact:- Richard Fraser Frenkel Topping Group plc Tel: 0161 886 8000 This information is provided by RNS The company news service from the London Stock Exchange