Quayle Munro Holdings PLC Proposed reorganisation of the Group (5750I)

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RNS Number : 5750I

Quayle Munro Holdings PLC

26 July 2012

26 July 2012

Quayle Munro Holdings PLC ("Quayle Munro" or the "Group")

Proposed reorganisation of the Group's Edinburgh-based activities

and Directorate Change

Quayle Munro today announces that following a comprehensive review of the Group's operations, the Board of Directors has taken the decision to focus the Group's activities on its successful London-based corporate finance business, having concluded that Quayle Munro's Edinburgh-based business is no longer core to the Group's operations and is not viable in its current structure.

As part of this restructuring, the Board is pleased to confirm that it has agreed in principle the terms on which certain members of the senior management will participate in a management buy-out of Quayle Munro's Edinburgh-based project advisory business. Should the transaction complete as expected, Quayle Munro will retain a minority shareholding in the new company.

Further details and the terms of the proposed transaction will be provided in due course.

It is also announced that Rob Cormie, an executive director of Quayle Munro, yesterday resigned from the Board and left the Group. Rob joined Quayle Munro in 2008 and became an Executive Director in 2010, based in the Edinburgh office. During this time he established and built a successful renewable energy practice. Rob wishes to pursue a number of commercial opportunities in the renewable sector, the first of which is to establish his own advisory firm, Edinburgh Advisers LLP.

Andrew Adams, Chief Executive of Quayle Munro Holdings PLC, commenting on these developments said:

"The proposed sale of our project advisory business to the management team is a positive development for Quayle Munro. We will now have a sharper focus to our corporate finance business, with a lower cost base, and we are optimistic about the prospects in this area. Quayle Munro is pleased to retain a minority interest in the project advisory business.

"We wish Rob well with his new business and in the pursuit of other renewable energy opportunities and thank him for his contribution to Quayle Munro over the past 4 years."

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For more information:

   Smithfield Consultants                 [phone] 

John Kiely

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