Walker Crips plans expansion after 'substantial gain' on Liontrust shares

The group transferred convertible unsecured loan stock (CULS) with a nominal value of £3.03m into ordinary Liontrust shares of 1p each, before selling those shares at 217.6p per share for a total of £6.6m. Walker Crips was issued with convertible Liontrust stock worth a nominal £4m in April 2012 as part of Liontrust's acquisition of Walker Crips Asset Managers (WCAM). Liontrust shares have risen substantially since the deal, climbing 129% in the past year alone to trade at almost 229p as of the close on 6 September. "The opportunity to convert the vast majority of the remaining CULS and...