Alltrue Investments PLC
23 February 2006
Alltrue Investments plc ('Alltrue') completes acquisition
of Falcon Securities Holdings Limited ('Falcon')
The Board of Alltrue is pleased to announce that the FSA has approved the
proposed change of control in Falcon Securities (UK) Limited, Falcon's FSA
authorized subsidiary and therefore the outstanding condition to the acquisition
of Falcon has now been satisfied. Application will be made for the admission to
trading on AIM of 100 million Alltrue ordinary shares that will be issued to the
vendors of Falcon upon completion of the acquisition.
Falcon is an FSA authorised brokerage firm, which provides services to corporate
and retail clients and its acquisition implements the Company's stated strategy
of creating a financial services business capable of delivering significant
shareholder value. Both the IX and Falcon businesses will continue to operate
independently but it is expected that within the enlarged Group significant
cross selling opportunities will arise.
Falcon is a Member of the London Stock Exchange and has a growing list of AIM
and Ofex Listed corporate clients and provides advisory and execution services
to a wide range of private and expert investors. Falcon's strategy remains
focused on growing its core business but it will also fully capitalize on the
opportunity to sell its services to IX's growing client base.
Chairman, Leo Knifton, commented:
'We are delighted to have completed the acquisition of Falcon in good time
following Alltrue's admission to AIM. We remain confident of the Company's
strategy for growth and the synergies between the IX and Falcon businesses.'
Press enquiries:
Leo Knifton, Chairman, Alltrue Investments plc 020 7251 3762
Shane Dolan, Biddicks 020 7448 1000
Jonathan Naess, Nabarro Wells & Co Limited 020 7710 7400
This information is provided by RNS
The company news service from the London Stock Exchange BAF