Source - SMW
Frenkel Topping Group's board has decided to terminate the formal sale process having completed a strategic review.

Frenkel Topping said the board decided it was in the best interest of shareholders, employees and clients to continue as an independent company and pursue  its existing business plan.

It said the board believed the prospects had been enhanced by proposed amendments to the Ogden discount rate, which would materially alter the landscape of the industry.

Frenkel Topping said the strategic review identified potential acquirers, however the board believed that none of these proposals appropriately reflected the organic growth potential of the group.

It said the board had recommitted itself to maintaining a progressive dividend policy and accelerating its year-on-year growth in AUM.

The group said the H1 trading performance was solid with significant revenue and operating profit progression versus H1 2016 and it was in line with expectations for the full year.

Assets on DFM mandates increased to £290m, and overall AUM to £770m.

 


At 9:41am: (LON:FEN) Frenkel Topping Group PLC share price was -1.75p at 57p