Financial Services Compensati

RNS Number : 1379A

Evolution Group PLC

26 January 2011

 



26 January 2011

The Evolution Group PLC

(the "Evolution Group", the "Group", the "Company", "Evolution")

Financial Services Compensation Scheme Levy

The Financial Services Compensation Scheme announced on 20th January 2011 that there will be an interim levy on the investment management industry to remedy the cost of major investment failures, primarily relating to Keydata Investment Services, Wills & Co and other investment intermediary firms.

Whilst in no way implicated in these failures, the share of the industry levy for Williams de Broe amounts to £1.4m which will be provided for as an exceptional cost in the year ended 31 December 2010. This compares to a similar levy in 2009 of £0.2m.

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For further information, please contact:

The Evolution Group PLC                                                                              020 7071 4300

Alex Snow, Chief Executive Officer

Andrew Westenberger, Finance Director

Attila Consultants                                                                                                                                                                  

Charles Cook, Senior Partner                                                                         020 7776 8825

Notes to Editors:

 

The Evolution Group PLC

The Evolution Group is the holding company of Evolution Securities Limited and Williams de Broë Limited.  Founded in April 2001 and originally listed on AIM, the Evolution Group joined the LSE Official List in 2003. The Group now has a market capitalisation of approximately £170 million.

 

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