StockMarketWire.com - Wealth manager Rathbone Brothers said it had completed the acquisition of CastleCo, the holding company of the Saunderson House for at least £138.4 million, after receiving approval from the Financial Conduct Authority.

The initial consideration of £138.4 million for the acquisition had been satisfied through the payment of £133.1 million of cash, and the issue of 272,952 new ordinary Rathbones shares to Saunderson House management and employee sellers.

The initial consideration shares equate in value to £5.2 million at a fixed share price of £19.13 and would be locked up for three years from completion and contingent on continued employment of the recipient.




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