News: Deals: Reports

Throgmorton Financial Services Ltd & Arc Fund Management Holdings PLC	Update Date: 05/15/08
Date Announced: 05/14/08
Value (million $USD): 3.4 million U.S. Dollar 1.8 million British Pound

Status: Completed

TRANSACTION DETAILS
Date Announced	05/14/08
Date Originally Announced	05/14/08
Format	Acq. of Assets	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	n/a
Value	3.4 million U.S. Dollar 1.8 million British Pound	Advisor Fees	n/a

SYNOPSIS

UK - Arc Fund Management Holdings PLC (AF) acquired Throgmorton Financial Services Ltd, a Northenden-based provider of financial advisory services, for 1.752 mil British pounds ($3.408 mil US). The consideration consisted of 0.8 mil pounds ($1.556 mil) in cash, up to 0.1 mil pounds ($0.195 mil) in profit-related payments and the issuance of 12.628 mil new ordinary shares valued at 0.852 mil pounds ($1.657 mil). The shares were valued based on AFs closing stock price of 0.068 pounds ($0.132) on May 13, the last full trading day prior to the announcement.

TARGET
Name	Throgmorton Financial Services Ltd
Industries	Management investment offices, open-end; Investment offices, nec; Investors, nec
City	Northenden, Manchester
State	n/a
Nation	United Kingdom
Incorporated in	n/a
Public Status	Private
Business Description	Throgmorton Financial Services Ltd, based in Northenden, UK, provides of financial advisory and investment management services. The company was established in 2003.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	Arc Fund Management Holdings PLC (London AIM : AFM)
Industries	Offices of holding companies, nec
City	London
State	n/a
Nation	United Kingdom
Incorporated in	n/a
Public Status	Public
Business Description	Arc Fund Management Holdings PLC, located in London, UK, is an investment holding company combining fund management and corporate finance expertise, specializing in investment vehicles that include Enterprise Investment Scheme funds, a Venture Capital Trust and the Arc European Property Fund. The company was founded in 2002.
Advisors	NULL
Acquiror Sales	n/a

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