Moneygate confirms interest in Clarkson Hill

National financial services firm Moneygate has tonight confirmed it was in talks with ailing Wisbech based Clarkson Hill Group - but that it was now reviewing its position.

Moneygate said it has been conducting due diligence on Clarkson Hill for three months, with a view to making an offer for its ordinary shares.

It said Moneygate's directors were aware of Clarkson Hill's December 6 announcement that regulatory permissions had been varied and as a result it was unable to undertake any regulated activities from 5pm on December 3.

As a result Moneygate was now reviewing its position. Attempts to talk with Clarkson Hill's directors over the past two weeks had been made but 'they have yet to re-engage in constructive discussions', said Moneygate.

In a statement Moneygate added: 'The directors of Moneygate have a great deal of sympathy for advisers, staff and clients of Clarkson Hill who they believe will be keen to know what the immediate future holds for them.


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'Moneygate's management are receiving many calls and emails from Clarkson Hill advisers seeking information. 'Unfortunately, Moneygate is not currently in a position to answer these queries other than to confirm that it has made an application to the FSA for consent to take a bulk transfer of Clarkson Hill's advisers. Any further updates will be provided as appropriate.'

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