Kingsbridge Holdings PLC
31 July 2000
KINGSBRIDGE HOLDINGS PLC
AGREEMENT WITH CLOSE BROTHERS
Kingsbridge Holdings ('Kingsbridge'), announces that it has
entered into an agreement with Close Brothers, a leading financial
institution, to market on its behalf a significant proportion of
its new tax efficient investment scheme. In total Kingsbridge has
agreed to place with its clients up to £30 million.
Kingsbridge will receive initial commission and an annual
management charge and will manage up to £10 million of these
Charles Green, Chairman, commented:
'Following the successful flotation the management team is working
hard to further expand its business and this is, hopefully, the
first of several deals that will both enhance the Company's
profile and profitability. In the first year the agreement with
Close Brothers is expected to contribute approximately £500,000.
We have appointed the first recruit since flotation, who will be
London based and assist in exploiting the opportunities available
in the Capital.
'We stated at flotation that the placing would allow us to take
advantage of the opportunities available and that the recruitment
of selected personnel was a priority. We expect to make further
announcements regarding expansion in due course.'
31st July 2000
Kingsbridge Holdings Plc Tel: 0115 852 3620
David McKee, Joint Managing Director Mobile: 0468 390896
College Hill Associates Tel: 020 7457 2020
Michael Padley / Nicholas Nelson Mobile: 07798 863 690
Kingsbridge is a provider of financial services and advice to
clients. The core business of Kingsbridge is the provision of
financial services and advice to a client base that includes
football players, managers and coaching staff. The principal
financial services and advice that Kingsbridge provides are
pension planning, tax efficient savings and investment plans and
the arrangement of pension drawdown contracts.