TIDMRBGP
RNS Number : 4700K
RBG Holdings PLC
02 September 2021
2 September 2021
RBG Holdings plc
("RBG" or the "Group")
Integration Update
RBG Holdings plc (AIM: RBGP), the professional services group,
today publishes an update on the integration of Memery Crystal
Limited into the Group.
Following the completion of the transaction in May 2021, the
Group committed to combine the Group's two law firms, Rosenblatt
Limited ("RBL") and Memery Crystal Limited ("Memery Crystal") into
a new legal services corporate entity to be called RBG Legal
Services Limited ("RBGLS"), enabling the Group to fully realise the
transaction's synergies. The new structure is consistent with other
listed law firms. The Board of RBG expects the Group to meet the
recently upgraded full-year market forecasts for the Group for the
year ending 31 December 2021.
While RBGLS will operate with one SRA number, the businesses
will retain their own brand identities and continue to operate as
two separately branded law firms. During the Autumn, the Group
anticipates that the two brands - Rosenblatt and Memery Crystal -
will become aligned to contentious and non-contentious services
respectively, to reflect their brand position within the
market.
Furthermore, the Group plans to integrate all support functions,
including technology platforms, and implement other changes to
deliver further synergies. To ensure the Group maximises the
opportunities of the new division, Group CEO Nicola Foulston will
also become Interim CEO of RBGLS for the next six months to
directly oversee the commercial and cultural integration. As a
result, Managing Director Barry Roche, will be leaving RBL but will
remain both a client and a consultant to RBGLS.
Further details on the integration plans will be provided with
the Group's interim results in September.
Commenting Group CEO Nicola Foulston, said: "The integration of
Memery Crystal into the Group is progressing well, and today's
announcement of our new legal services entity, RBGLS, is a
significant milestone. While we will retain both brands, we see
opportunities to deliver considerable value for shareholders by
integrating the two firms, leveraging each businesses skills and
resources to benefit the other. I will be directly overseeing the
integration over the next few months to ensure we maximise these
opportunities."
Enquiries:
RBG Holdings plc Via SEC Newgate
Nicola Foulston, CEO
Singer Capital Markets (Nomad and Tel: +44 (0)20 7496 3000
Broker)
Shaun Dobson / Alex Bond (Corporate
Finance)
Tom Salvesen (Corporate Broking)
SEC Newgate (for media enquiries) Tel: +44 (0)7540 106366;
Robin Tozer/Tom Carnegie rbg@secnewgate.co.uk
About RBG Holdings plc
RBG Holdings plc is a professional services group, which
comprises the following divisions:
Rosenblatt Limited ("Rosenblatt")
Rosenblatt is one of the UK's pioneering law firms and a leader
in dispute resolution. Rosenblatt provides a range of legal
services to its diversified client base, which includes companies,
banks, entrepreneurs, and individuals. Complementing this is
Rosenblatt's increasingly international footprint, advising on
complex cross-jurisdictional disputes. Rosenblatt's practice areas
include banking & finance, competition & regulatory,
corporate, dispute resolution, employment, financial crime,
financial services, insolvency & financial restructuring,
IP/technology/media, real estate, serious & general crime, tax
resolution and white-collar crime.
Memery Crystal Limited ("Memery Crystal")
Specialist international law firm Memery Crystal offers legal
services in a range of areas such as corporate (including a
market-leading corporate finance offering), real estate,
commercial, IP & technology (CIPT), banking & finance, tax
& wealth structuring, employment, and dispute resolution.
Memery Crystal is one of the leading firms in the UK to advise the
emerging cannabis sector on a wide range of business issues. Memery
Crystal offers a partner-led service to a broad range of clients,
from multinational companies, financial institutions, and
owner-managed businesses to individual entrepreneurs.
Together, Rosenblatt and Memery Crystal form the Group's Legal
Services Division - RBGLS.
LionFish Litigation Finance (UK) Limited ("LionFish")
The Group also provides litigation finance in selected cases
through a separate arm, LionFish Litigation Finance (UK) Limited.
LionFish finances litigation matters being run by other solicitors
in return for a significant return on the outcome of those cases.
As such, the Group has two types of litigation assets -
Rosenblatt's own client matters, and litigation matters run by
third-party solicitors. LionFish is positioned to be a unique,
alternative provider to the traditional litigation funders.
Convex Capital Limited ("Convex Capital")
Convex Capital is a specialist sell-side corporate finance
boutique based in Manchester. Convex Capital is entirely focussed
on helping companies, particularly owner-managed and
entrepreneurial businesses, realise their value through sales to
large corporates. Convex Capital identifies and proactively targets
firms that it believes represent attractive acquisition
opportunities.
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END
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