European Wealth Group Limited Acquisition Update (0641P)

TIDMEWG

RNS Number : 0641P

European Wealth Group Limited

23 May 2018

23 May 2018

European Wealth Group Limited

("EWG", the "Company" or the "Group")

Acquisition Update

European Wealth Group, the integrated wealth management group, today provides a further update on its proposed acquisition of Newbridge Corporation ("Newbridge").

The Board of EWG is pleased to announce that the US regulator, FINRA, has approved Newbridge's request for a change of ownership. EWG will now move to the final stages of its commercial due diligence on Newbridge, in order to assess whether the remaining (non-regulatory) closing conditions can be fulfilled to the Board's satisfaction, including a satisfactory final closing balance sheet and confirmation that there are sufficient provisions for all current and future liabilities identified since announcement of the proposed acquisition. There is no guarantee that the transaction will close.

EWG will provide an update when the process is complete.

For further details, please contact:

 
 European Wealth Group 
  Limited                    [phone] 
 Marianne Ismail 
 Hugo Evans 
 
   finnCap Ltd (Nomad 
   and Broker)                 [phone] 
 Adrian Hargrave 
 Scott Mathieson 
 
   Redleaf Communications      [phone]; [e-mail] 
   (for media) 
 Robin Tozer 
 

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May 23, 2018 09:16 ET (13:16 GMT)