Merchant House has taken on 120 ex-Clarkson Hill advisers and raised £345,000 in a share issue to help fund the growth of the business.
The Group today issued 207,518,797 new ordinary shares of 0.01p each at 0.16625p per share. The placing yielded £345,000 gross of expenses. Merchant House says the funds have been raised to support the growth and development of its financial planning arm, Merchant House Financial Services (MHFS). Of the 120 former Clarkson Hill advisers, 32 have gained FSA approval to operate in MHFS. The company says it expects the rest to be treated by the regulator in a way consistent with the first group. In a statement this morning the company says it has successfully integrated the acquired a...
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