Hadley takes up Board post at Arc

Arc purchased the independent financial advisory company, TAM, as its first step in developing a wealth management division. With an estimated £150m of funds under advice at TAM, Arc now boasts a total of £275m funds under management, double the figure prior to the transaction. TAM was purchased for consideration amounting to £1,605,000, comprising £1,200,000 cash and £405,000 in shares (through the issue of 3,000,000 new ordinary shares of 0.5p) together with deferred consideration, subject to performance targets by TAM, of up to £1,110,000. The normalised earnings for TAM for the...