Investment in Panmure Gordon

18 Aug 2008 07:05

EFG-Hermes Holding S.A.E. Announcement

EFG-Hermes Subscribes to Capital Increase in Panmure Gordon & Co. plc Acquiring a 9.06% of the Company

In continuation of the strategy to service its clients across the globe, EFG-Hermes announces that it has subscribed to 6,732,675 shares in the capital increase of Panmure Gordon & Co. plc at a price of 47p with a total investment cost of GBP 3.164 million entailing an ownership stake of a 9.06% (post-dilution) to EFG-Hermes.

Panmure Gordon & Co. is an AIM listed company with UK and US institutional broking, investment banking and wealth management activities.

The transaction is a testament to the growing importance of the MENA region's markets on the global investment stage and augments EFG-Hermes' ability to service its regional as well as its international clients across all lines of business both in terms of product offering and accessibility.