StockMarketWire.com - Frenkel Topping - a leading provider of specialist independent financial advice on the investment of personal injury damages and clinical negligence awards - has acquired the entire issued share capital of FC Fund Managers Limited from FCFM Group Limited.

FCFM will be renamed Frenkel Topping Investment Management Limited and will be a wholly owned subsidiary of Frenkel Topping.

The consideration for the acquisition is £4.425 million, to be satisfied by the issue of 10,000,000 new ordinary shares to FCFM Group at 44.25p apiece.

FCFM Group has undertaken that it will not dispose of any of the consideration shares for a period of six months from the date of the acquisition.

In addition, with immediate effect, Jason Granite the majority shareholder of FCFM Group, has been appointed to the board of Frenkel Topping. Granite will serve as chief investment officer of the company and will have additional responsibility focusing on potential investment opportunities.


At 8:24am: [LON:FEN] Frenkel Topping Group PLC share price was +0.25p at 44.5p



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