Last checked at 20 Feb 2012 07:00
For release: 20th February 2012
Worldlink Group and Chryson to Create Joint Venture
Worldlink Group plc. (LSE: WGP) and Chryson Wealth Management announce today that they are in negotiations to create a Joint Venture (JV) partnership. This will bring Worldlink's existing business together with Chryson's Wealth Management expertise to create a new entity to operate alongside Chryson's established business. As a result of this JV, clients will have access to the extended services.
In addition, Worldlink Brokers Limited has entered into an agreement to become an Authorised Representative of Chryson following approval by the FSA. Both parties see this as a sensible first step whilst the details of the JV are finalised, which is anticipated to complete within 3-6 months.
In anticipation of this, Worldlink Brokers Limited are finalising their new trading website which will go live in the next few days. The mobile platform is covered by the gatekeeper Worldlink patents covering change data in real time on mobile devices.
Neil Riches Managing Director of Worldlink commented: "The patents that form the core of Worldlink's business were born out of the developments in mobile technology nearly 13 years ago. Applying the scope of those patents to providing real time data for financial markets allowing trading from all mobile devices has been the objective of the Group for a long time, and will become a significant revenue stream for the Company following the formation of the joint venture.
Gaining market share will be enhanced by the marketing capability of Chryson and the recognition of Chryson brand as a market leader in contract for difference trading. I see only synergistic benefits for our clients from this development and I look forward to building on this relationship to generate a sizeable business for the JV."
Malcolm McNiven, Managing Director of Chryson said:" The investment community is becoming increasingly a mobile community and we want to get access to the best quality mobile offer we can for our clients so they can trade wherever they happen to be. Worldlink are an ideal partner for us as not only do they provide a robust mobile trading platform the protection of the Worldlink patents allows us to ring fence any additional market share we generate, an important advantage in a very competitive arena. We agree that there is a great deal of synergy in this relationship and anticipate a long and fruitful partnership"
For more information please contact:
Neil Riches 01737 221 078
Managing Director
Worldlink Group plc.
Malcolm McNiven 0141 342 2270
Managing Director
Chryson Wealth Management
Jon Bellis 0207 101 7070
XCAP Securities plc.
Mike Wort/Anna Dunphy 0207 556 1063/4
De Facto Financial
Notes to Editors:
About Worldlink
Worldlink is one of the UK's leading real-time mobile applications companies with patented technology that allows information held on the mobile device to be updated automatically without the need for a manual refresh. Information is delivered via a mobile telecommunications network in real time, whilst intelligently minimising the bandwidth required to transmit the data. The technology is patent protected in the US and UK and is patent pending in Europe.
Worldlink has already licensed its patents to leading institutions in the financial and technology sectors and is furthering this process in the UK, Europe, and the US, where partnerships have already been put into place.
About Chryson
Chryson Wealth Management was founded in 2007 by Malcolm McNiven and David Clark. Malcolm and David operated in the banking profession, specialising in commercial and investment banking; Malcolm is a member of the chartered Scottish Institute of Bankers.
Chryson is a boutique stockbroking firm, operating in Glasgow and London specialising in providing discretionary Contracts for Difference (CFDs) programmes.
Additional services include Financial Spread Betting and Equity platforms. Our stockbroking and financial services trading programmes are supported by a sophisticated software system tracking market movements in a variety of asset classes.
Chryson has quickly developed an impressive client base of high net worth individuals who are active in our CFD discretionary trading programmes. www.chryson.co.uk