TIDMARDN

RNS Number : 1660G

Arden Partners plc

25 May 2017

Arden Partners plc

("Arden" or the "Company")

Directorate changes and possible fundraising

Directorate changes

Arden is pleased to announce that Donald Brown has been appointed to the Arden Board as Chief Executive Officer (designate) of the Company, subject to regulatory approval.

Donald Campbell Brown (aged 47) has more than 25 years' experience of working in the small and mid cap broking sector, most recently as a Managing Director at the Royal Bank of Canada for the last seven years. He previously held senior positions at Collins Stewart and Evolution Securities.

James Reed-Daunter, the current Chief Executive Officer, will formally step down from the role once regulatory approval of Donald Brown's appointment has been confirmed. Going forward, James Reed-Daunter will continue to serve as an Executive Director on the Arden Board and as a senior member of Arden's Equity Capital Market's team.

Additionally it is intended that, once regulatory approval of Donald Brown's appointment has been confirmed, Jonathan Keeling, Executive Deputy Chairman and Stephen Wassell, Chief Operating Officer, will both step down from the Arden Board. Both will remain with the Company in senior managerial positions, as Chairman of the Operations Committee and as Operations Director respectively.

Possible fundraising

Arden also announces today that it intends to conduct a placing of new ordinary shares in the Company to raise approximately GBP5.0 million (before expenses) (the "Fundraising"). This additional financial resource, once raised, will be used to strengthen the Company's capital reserves and allow it to continue to attract further senior hires and incremental teams into the business. A further announcement on the Fundraising will be made in due course.

Commenting on the proposed Board changes and the Fundraising Luke Johnson, Non-Executive Chairman of Arden, said:

"Arden is fortunate to have attracted a man of Donald's character and experience - he has remarkable market knowledge and a formidable network of institutional contacts. On behalf of the Board, I welcome him to the Company and look forward to working with him to grow the Arden business.

My sincere thanks go to James Reed-Daunter for his selflessness in identifying and driving this significant opportunity for the firm and I am also extremely grateful to Jonathan Keeling and Steve Wassell for their respective efforts and contributions whilst serving on the Arden Board.

I believe that a leaner, more nimble Board will enable the firm to react more swiftly to rapidly changing market conditions and to take advantage of future opportunities.

The Fundraising, once complete, will provide the Arden management with further financial flexibility with which to grow the Company."

Donald Brown has confirmed that there are no further disclosures to be made in accordance with paragraph (g) of Schedule 2 of the AIM Rules.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

 
 
  Arden Partners plc                  0121 423 8993 
Steve Wassell - Company Secretary 
GCA Altium - NOMAD to Arden 
 Partners plc                       0207 484 4040 
Sam Fuller

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 25, 2017 02:00 ET (06:00 GMT)

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