SHK Cooperation Agreement

RNS Number:3793T
Ambrian Capital PLC
21 March 2007



21 March 2007


                              Ambrian Capital plc

   Major Hong Kong Financial Institution to Acquire Stake in Ambrian Capital

                              Change of Directors

                   Firms Will Develop Cooperative Activities



LONDON - 21 March 2007- Ambrian Capital plc ("Ambrian Capital" or "the 
Company"), the investment bank,  announced today the purchase by Sun Hung Kai & 
Co Limited ("SHK") (0086.hk) of Ambrian Capital ordinary shares from certain
directors, a proposed change in the composition of the Board of Directors of
Ambrian Capital, and a commitment to business cooperation between the two
organisations.


At the forthcoming Annual General Meeting ("AGM"), Malcolm Burne and Richard
Lockwood will step down from the Board of Ambrian Capital. Mr. Burne will
continue to consult on principal investments and asset management strategies
whilst also remaining as Ambrian's representative on principal investee company
boards, including Golden Prospect Precious Metals Limited, Jubilee Platinum plc
and Commodity Watch plc.


Malcolm Burne, Chairman of Ambrian Capital, said, "After 10 years as Executive
Chairman and now dictated to by advancing years, it is now opportune for me to
stand down from full time executive duties in favour of a group investment
advisory role. Richard Lockwood who founded the Company with me will also be
retiring at the AGM as a non-executive director to concentrate on his rapidly
growing New City Investment Managers Ltd. As a result of these changes, both
Richard and I have decided to place the majority of our holdings of Ambrian
Capital shares with Sun Hung Kai Financial, one of Hong Kong's largest and most
prominent financial groups."



Mr. Burne went on to say, "Our CEO, Tom Gaffney, has assembled a highly talented
group of dedicated young professionals who together with SHK can now take this
robust and exciting investment banking entity to a more mature role on the
international stage."



Effective on the date of the AGM Lawrence Banks, CBE, will be appointed
non-executive Chairman of Ambrian Capital. Mr. Banks is currently a
non-executive director of Ambrian Capital and Chairman of Ambrian Partners
Limited, the corporate finance and stockbroking subsidiary. Mr. Banks was
previously Deputy Chairman of Robert Fleming Holdings Limited.



At the AGM it will be proposed that Lee Seng Huang and Charles Crick be
appointed as non-executive directors of Ambrian Capital. Mr. Lee is Executive
Chairman of SHK. Mr. Crick is currently a non-executive director of Ambrian
Partners Limited. He trained as a solicitor with Allen & Overy and from 1996 to
December 2004 Mr. Crick was Head of Corporate Finance and a main board director
of Numis Corporation PLC.



Under the agreement SHK will purchase a total of 9,806,250 Ambrian Capital
ordinary shares at a price of 60p per share from Lombard Odier (5,356,250) and
the following directors of Ambrian Capital: Malcolm Burne (2,000,000), Richard
Lockwood (1,200,000) and Tom Gaffney (1,250,000). After the share purchase, SHK
will own 9.10% of Ambrian Capital's outstanding ordinary share capital
(excluding shares held in Treasury) and Mr. Gaffney will hold 3,170,053 ordinary
shares and 5,500,000 share options.



Ambrian Capital and SHK have agreed to develop cooperative activities, including
the following:



1.         Capital Raising



Ambrian will work closely with SHK to raise capital for Asian companies in the
European capital markets with a particular focus on AIM listings.



2.         Commodities



It is the intention for both organisations to work together to offer Asian
industrial and institutional clients access to Ambrian's London Metal Exchange
trading/broking expertise as well as to provide broker-dealer services in other
commodities. SHK has a joint-venture with Yongan Futures, one of China's largest
commodities brokers.



3.         Fund Management



Ambrian and SHK plan to develop together value-added investment fund products
that can be offered to clients of SHK in Asia, as well as investment products
with an Asian focus managed by SHK that can be offered by Ambrian to European
investors.



Tom Gaffney, Chief Executive Officer of Ambrian Capital, said "We view our link
with SHK as an important opportunity to participate in the rapid growth
occurring in Asia. As the Chinese economy further industrialises, the demand for
natural resources will continue to grow and this will be matched by expansion in
consumer wealth. We plan to play a role together with SHK in managing the flow
of international investment into China as well as the international deployment
of capital by Chinese companies."



Mr. Gaffney went on to say, "We welcome SHK as a shareholder and look forward to
building our ties with them. The planned joint business initiatives will
accelerate the growth of Ambrian Capital."



Lee Seng Huang, Executive Chairman of Sun Hung Kai & Co Limited, said "We are
looking forward to working with Ambrian Capital. We recognise the strong
reputation the Group has built in the resources sector and we are confident that
we will be able to apply this skill base in Asia". Mr. Lee added, "We believe
the benefits of today's agreement to both organisations and their shareholders
will be significant".


_____________________________________________________________________



Ambrian Capital plc, formerly Golden Prospect plc, is an independent investment
bank quoted on the Alternative Investment Market of the London Stock Exchange
(Ticker: AMBR) which has three wholly-owned subsidiaries: Ambrian Partners
Limited, a corporate finance advisor and stockbroker; Ambrian Commodities
Limited, an Associate Member of The London Metal Exchange and a broker-dealer of
LME traded metals and precious metals; and Ambrian Asset Management Limited, a
specialist investment management business. Further information about the Group
is available on Ambrian Capital's website: www.ambrian.com



_____________________________________________________________________



With its foundation dating back to 1969, Sun Hung Kai & Co. Limited, which
trades under the brand Sun Hung Kai Financial, is the leading non-bank financial
institution in Hong Kong. SHK currently has approximately HK$30 billion (#2
billion) in assets under management and/or advice, and about HK$7 billion in
shareholders' equity. Its core areas of focus include wealth management/
brokerage, asset management, corporate finance, consumer finance as well as
principal investments. SHK employs over 1,300 dedicated professionals and has an
extensive branch and office network in 50 locations in Hong Kong, Macau and
China. Further information about the Group is available on SHK's website:
www.shkco.com



_____________________________________________________________________



Enquiries



Malcolm Burne                                         Tel: [phone]
Chairman, Ambrian Capital plc


Tom Gaffney                                           Tel: [phone]
Chief Executive, Ambrian Capital plc


Simon Atkinson                                        Tel: [phone]
Collins Stewart


Cathy Malins / Annabel Leather                        Tel: [phone]
Parkgreen Communications



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            The company news service from the London Stock Exchange
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