Plus Markets advisory business St Helen's Capital PLC (AIM: SHCP) lost nearly a third of its value after announcing signing heads of agreement regarding its sale to Whim Gully Capital LLP and the subsequent acquisition of Whim Gully by Evolve Capital PLC (AIM: EVOL).
WGC is owned by Edward Vandyk, his wife, Oliver Vaughan and Oliver Cooke. Vandyk and Vaughan are directors of Evolve Capital and its 57 percent owned subsidiary Astaire Group PLC.
St Helen’s shares were down 33 percent on the news in late morning deals. Evolve’s share price was unchanged.
St Helen's said it is selling its business to WGC for £250,000. WGC has entered into heads of agreement with Evolve giving it a 3-month period of exclusivity to acquire WGC, conditional on and including the benefit of any contract WGC enters into with St Helen's Capital.
St Helen's Capital and WGCs combined PLUS advisory business would feature more than
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