Registered in England and Wales. Company registration number: 04034645
VAT registration number: 765 4893 78
This site complies with Rule 26 of the AIM Rules for Companies. This website is owned by Merchant House Group Plc and hosted by Tinderhouse Limited. This section was updated on 7th September 2011.
15 March 11
Merchant House Group
Merchant House Group plc GXG Markets Partnership
RNS Number : 9743C
Merchant House Group PLC
15 March 2011
15th March 2011
MERCHANT HOUSE GROUP ANNOUNCES
PARTNERSHIP WITH GXG MARKETS
Merchant House Group plc (“MHG” or “the Company”), the AIM-listed financial services group, announces that it has reached agreement with GXG Markets (“GXG”), the Danish regulated market focusing on small to medium-sized businesses (“SMEs”), to launch a new Scandinavian-based, UK-facing trading platform to offer British companies the opportunity to attract European capital.
GXG is able to operate in the UK given its status as an EU-regulated market under MiFID, a principle which allows European businesses with the relevant approvals and licences in one country to operate in another European Union country.
As well as attracting British SMEs to its market, GXG is hoping that other companies listed on its platform, now and in the future, will be able to attract inward investment from UK based private investors and institutions.
The market capitalisation of companies seeking to list on GXG will typically range between €5 million and €50 million (£4 million – £42 million). Current active members of GXG include many leading regional institutions such as Danske Bank, Handelsbanken, SEB Group and Dutch bank ABN Amro.
MHG Chief Executive, Chris Day, said: “GXG has an excellent reputation and an impressive list of members and with its focus on small caps we felt it would make an ideal partner for us and our clients.
“We believe that the partnership with GXG could generate significant corporate finance opportunities in both the UK and Europe for Merchant Capital”.
Mikael Rosenberg, GXG Group’s Chief Executive, said: “We have been looking to expand into other European markets to create a Pan-European marketplace for SME’s and alternative investments and we will be making an excellent start in the most important European market through our partnership with MHG.”
Carl Johan Hogbom, GXG Markets’ Chairman, said: “We will provide British SMEs with a very competitive alternative to the traditional British exchanges. There is ample room for a European exchange that targets SMEs.”
– Ends –In August 2010 it was acquired by Swedish group GXG Global Exchange Group AB and renamed GXG Markets. It uses its parent company’s proven electronic trading platform known as Tellus. It has close links with Dansk OTC, the Danish over the counter market which has been operating since 1987.
About Merchant House Group plc: Merchant House Group plc is an AIM-listed holding company whose main subsidiary Merchant Capital is a corporate finance, investment advisory and stockbroking firm concentrating on small to medium sized companies. It also offers a wealth management service.
Other companies in the group include Merchant Funds, an UCITS umbrella and Merchant House Finance, which offers leasing. Merchant House Group is also in the process of building a presence in the Independent Financial Adviser market.
Please visit our website at www.merchanthousegroup.com
For further information:
James Holmes, Chairman/ Chris Day, Chief Executive
Merchant House Group
+44 (0) 207 332 2200
Media enquiries
Evan DeBarra or Jamie Wynn-Williams
Hume Brophy
+44 (0)20 3440 5656
For GXG UK
Mikael Rosenberg, Chief Executive
GXG Global Exchange Group
+46 (0) 733 99 70 50
Simon Kiero-Watson, Managing Director
+44 (0)7252755143
Paul Quade
CityRoad Communications
+44 (0) 207 248 8010
www.gxgmarkets.co.uk