Date: Tuesday 21 Jul 2009
LONDON (ShareCast) - Evolve Capital has signed heads of agreement linked to the purchase of PLUS corporate adviser and broker Whim Gully Capital.
The deal is conditional on WGCís own £250,000 acquisition of St Helen's Capital, an institutional stockbroker and corporate finance adviser.
WGC is owned by Edward Vandyk and Oliver Vaughan, directors of Evolve Capital and its 57% owned subsidiary Astaire Group, Vandykís wife and Oliver Cooke.
Evolve, which could end up with over 25 PLUS quoted clients, hasnít published the terms of any bid for WGC.
The heads of agreement signed by St Helen's provides a three-month period of exclusivity to WGC.
If the sale to WGC is approved, St Helen's intends to continue trading on AIM and will be treated as an investment company.
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