Long term hold for me and rarely trade them - Nice trading update yesterday - I add a few in the dips and look forward to a bull market one day soon - EVG will gain in every way


Times - The parent Evolution Group rose 1p to 50p on an upbeat year-end trading statement. The AIM-listed stockbroker is tipped to seek to rise to the Official List after full-year figures in March. It is also expected to gain from the continued retreat of the likes of ING from small-cap broking.



ains

AFX-Focus) 2003-01-30 16:40 GMT: Evolution says revenues exceeded targets, in profit in final 4 mths of yr


LONDON (AFX) - Evolution Group PLC, the AIM listed investment bank and retail fund management group, said its financial performance in the final four months of 2002 has seen revenues exceed the targets set for the combined business following completion of the acquisition of Beeson Gregory Group in July 2002.
This income has been earned across the whole firm with strong performances from corporate finance, sales and trading, said chairman Andrew Beeson. Overall, in this four month period, he said Evolution Beeson Gregory has made a profit against a background of "very difficult market conditions".

Andrew Beeson also announced today that he has decided to stand down as chairman with immediate effect. He will be succeeded by Richard Griffiths.

Beeson said the group has continued to focus on cost management and has made significant reductions in our headcount, from 128 people when the merger with Beeson Gregory was completed to 84 at the year end, whilst eliminating other overhead expenses.

This has resulted in cost of income in the period now being close to 60 pct, a structure which the board believes will allow the group to operate profitably going forward.

Beeson also said the group has won a significant number of new corporate clients in the period since the merger demonstrating success across a number of sectors and market capitalisations.

"On this basis our future income quality is high, with a strong retainer income base of over 25 pct of projected operating costs, and the opportunity to secure corporate transaction fees as well as primary and secondary commissions."

Beeson said Christows has experienced the effects of extremely difficult market conditions in the retail stockbroking sector. "Against this background we have continued to strive to win new funds under management via our sales and marketing efforts which have been successful in gaining 54 mln stg of new funds under management during the full year."

In conjunction with this strategy, the newly launched multi-manager portfolio service has been "extremely well received" by end and intermediary customers, Beeson said.

The second half of 2002 saw an acceleration of progress made in the group's Intellectual Property subsidiary IP2IPO. The board said it believes that this company will contribute significantly to the group's value.

There will be one off exceptional charges in the period ended Dec 31 2002 relating to the merger and restructuring of the Beeson Gregory Group. In addition, in line with the Evolution Group's policy regarding valuations of unquoted investments, there are significant exceptional charges related to the revaluation of Beeson Gregory's technology investments.

Beeson concluded: "The board remains committed to maintaining the group's strong balance sheet and substantial cash position. Clearly market conditions remain extremely difficult but your board will undertake everything required to ensure the ongoing performance of the operating businesses and to realise maximum potential from our other strategic assets."

newsdesk@afxnews.com slm/

A late run on the strength of the director buy reversed an earlier fall and we closed up 2% on the day - good to see someone with a big committment - 2.2 million traded

ains



LONDON (AFX) - Evolution Group PLC said chairman Richard Griffiths purchased
171,325 ordinary shares in the company at a price of 50 pence per share.
This brings his total holding to 5,600,000 shares in Evolution, representing
a stake of 2.32 pct.
newsdesk@afxnews.com

Times Market report


Evolution Group, the AIM-listed stockbroker, perked up 1p at 51p as Richard Griffiths its deputy chairman who on Thursday was appointed successor to Andrew Beeson, chairman bought a further 171,325 shares at 50p, taking his stake to 2.3 per cent.

500k broker to broker trade earlier this morning

fyi

(AFX-Focus) 2003-02-03 10:48 GMT: Seymour Pierce says carefully exploring bid approach; trading difficult
LONDON (AFX) - Seymour Pierce Group PLC said it is carefully exploring a bid approach. At the end of November the company confirmed it had received an approach which may or may not lead to an offer.
Seymour Pierce also said trading conditions are difficult and worse than than those it was experiencing in December when it released its results for the year ended Sept 30 2002.

Trading is being affected by the uncertainty surrounding a possible war with Iraq, and record falls in the London stock market last month. Still, "in comparison with some of our competitors our position is stronger, due to the high level of our cash balances," it said.

The company has also undertaken a strategic review, including looking at two businesses that it said had "been incurring unsustainable losses over recent months."

The activities of Pavilion Capital have either been restructured or are in the process of being wound up. While on Friday the company conditionally agreed to dispose of Seymour Pierce Bell Ltd, a private client stockbroking firm. The disposal of Seymour Pierce Bell Ltd will mean staff numbers have been cut by more than 20 pct since Sept 30 2002.

jc

I have some serious reservations about the code of practice exercised by EVG (I hold) regarding their conduct, or suspected conduct, with their handling of the OMH account (of which I hold a greater %).

There has been an extrordinary manipulation of OMH share price since its recent offer conducted by EVG, which from my understanding of ADVFN L2 holders information, has been controlled 'negatively' by EVG. My understanding is that other MM's have been forced out of the daily dealing frame by EVG resulting in a much suppressed OMH shareprice. Some may well feel that this is linked to the recent deal announced between OMH and Roche, which includes an undertaking by Roche to buy up to a maximum of 22mil shares at a limit of $1mil by 31 Mar 2003. If true, this behaviour is unacceptable and adds to to my own perception of malpractise that is now becoming commonplace against the interest of the normal retail investor. If I am convinced of my suspicions, my EVG holding will become history.

This is only IMHO so do your own research.

$

I am not aware of any special code of practise and don't hold OMH. You need to see L2 yourself to understand how it works as a lot of nonsense has been talked on mm manipulation. Generally they run a book but clearly they can and will move their quote aggressively on occasions to fill an order or support a share price.

I wouldn't sell them because of that ......


ains




a couple of news itmes found by rivaldo last week

Just announced - EVG have gained yet another client (incidentally, Next Fifteen were previously called OneMonday - they're a 40m turnover group):

"Next Fifteen Communications Group plc (the 'Company'')
Appointment of Financial Adviser and Broker
The Company is pleased to announce the appointment of Evolution Beeson
Gregory Limited as its financial adviser and broker with immediate effect."



Redstone plc (the 'Company'')
Appointment of Financial Adviser and Broker

The Company is pleased to announce the appointment of Evolution Beeson Gregory
Limited as its financial adviser and broker with immediate effect.

ainsoph

In the general cut and thrust of sharedealing I would agree with you, but you would have to examine the issue of very good news (FDA approval) together with a technology enhancing related purchase (blood gas analyser) with attached substantial revenue earnings from a major player (Roche)who were also willing to put $1mil into omh shares as part of the deal and you have to wonder why OMH shares did not take off like a rocket before you could understand where I am coming from! The broker who seemed to be holding this back was - yes EVG! Who managed an earlier fund raising exercise for OMH. A look at the historical record on ADVFN OMH BB thread might bring it home to you that EVG might not be playing the game! At 3p currently this has to be a laugh, I've seen broker recs up to 50p!

PS I also hold RED!

You might like to examine your own feelings if EVG become involved with one of your substantial shareholdings and start taking it down to the dogs! As you just said maybe they were they trying to fill an order, to who's benefit was that - not the retail investor, and nothing of sufficient magnitude showed as a late trade so the mystery remains.

This one might bite you, but good luck anyway....

$

As it happens, I hold lots of Tads and EVO are said (by some) to be running a short book despite being house broker. Thet are certainly being very aggresive on the offer.

I am aware of the situation on OMH as I do talk every day to a couple of guys who are holding. However I am not sure this should colour your thinking on holding EVG - surely they are coming across in a good way as far as their future is concerned. What I am saying is 'don't cut off your nose to spite your face' ..... I am convinced EVG have a great future ......



ains

1.5 million broker trade at the offer

hmmmmmmmmmm .......... dropping like a stone on no volume shown



ains

Cross of 250K at the new mid - recovered almost half the early morning losses now



ains

Results were in line with the current market expectations and the share price reacted favourably but still depressed ..... the following article gives the clues ...... however there wil always be a winner and my money is on EVG. Times and markets will get better and becoming more efficient by shedding work units and consolidating in the meantime is no bad thing ..... roll on the better times


ains


April 05, 2003

Small brokers scavenge for pickings in grim market
By Mark Court TIMES



THE collapse in Londons equity markets has had a profound effect on the Citys smaller quoted stockbrokers, whose trading conditions have never been worse. One trader said: Institutional equities trading has gone for a burton. The volume is in the derivatives market, which the small brokers arent usually involved in. Theres hardly any volume at all in the cash market.
One analyst said: The small company arena in which the small brokers operate is not only terrible, its also massively over-broked. Theres an oversupply of brokers.

Against this challenging backdrop, brokers, such as Evolution Group, Seymour Pierce, Shore Capital, and Teather & Greenwood are fighting to develop profitable businesses.

The group admits that market conditions had been extraordinarily difficult but claims that changes in the small and mid-cap sectors were providing opportunities.

Richard Griffiths, Evolutions chairman, said: The current trend has been for the large integrated investment banks to withdraw from this end of the market. This, in turn, has created significant opportunities for small, independent, well-capitalised companies such as Evolution Beeson Gregory who focus exclusively on this area. Many bigger banks such as Deutsche and WestLB, from Germany, and ING, from the Netherlands, have cut back or closed their smaller businesses, leaving their clients looking for new brokers. Amid light equity trading volumes, brokers such as Evolution are keen to pick up this type of work.

Small brokers, in common with the main banks, are also clamping down on overheads in an effort to stem losses.

One broker said: Everybody has shed jobs and there are more cuts to come. There will be cuts of around 25 per cent by the time we have finished.

Even so, analysts say brokers such as Teather & Greenwood have struggled to cut costs far enough.

The future for the small brokers is difficult to predict, not least because of the lack of visibility in equity markets. In addition, analysts do not generally provide profit forecasts for small brokers, perhaps reflecting the uncertainty ahead.

Plenty of press coverage both yesterday and today. This is not untypical - from the FT



Evolution incurs loss after Beeson acquisition
By Elizabeth Rigby in London
Published: April 4 2003 9:51 | Last Updated: April 4 2003 12:37


Evolution, the Aim-traded investment bank that last year took over stockbroker Beeson Gregory, on Friday reported a steep rise in losses on the back of costs relating to the acquisition of its rival.


"There have been significant items that are non-recurring in nature - provisions against fixed assets, redundancy and restructuring costs, and the impairment of goodwill - accounting for the loss," said Alex Snow, chief executive.

Operating losses for the combined group jumped to 25.1m ($39.3m) in the year to December 31, against a loss of 12.8m last year. The bank wrote down 10.9m relating to the acquisition of goodwill and a further 1.3m of restructuring costs.

Evolution Beeson Gregory, the investment banking arm said it had reduced ongoing costs for the combined business by a third to 10m over the past year, and cut 44 jobs. The group now has 84 staff. The merger of the two rivals last year created one of the largest independent retail brokers.

Mr Snow was upbeat on outlook and said there were lots of opportunities in the small to mid-cap area.

"The current trend has been for the large integrated investment banks to withdraw from this end of the market. This in turn has created significant opportunities for small, independent, well capitalised companies."

The group added 16 new corporates to its books last year and now has 104 clients.

Meanwhile, IP2IPO, the vehicle set up by Beeson to commercialise ideas from UK universities, has spun out three companies in the second-half.

The group has exclusive ownership to the long-term intellectual property assets from Oxford university's chemistry department and the university of Southampton.

Christows, the fund management arm, made retained profit of 210,000, compared with a loss of 2m.

Turnover more than doubled to 15.4m compared with 7.58m last year.

Always a good sign and will follow suit as longer term funds become available

ains


LONDON (AFX) - Evolution Group PLC said chairman Richard Griffiths has increased his stake in the company to 2.57 pct with the purchase of an additional 235,000 shares at 34 pence per share, taking his holding to 5.835 mln shares.
In addition, Graeme Dell, finance director, bought 35,000 shares at 34 pence per share taking his total holding to 47,820 shares or 0.02 pct.

newsdesk@afxnews.com

Quite a few buys this morning with useful volume - up 8.57% @ 37/39p

Single buy order gets them moving northwards again by 7.8% - now 40/43p



ains

Accounts now out


Note that Schipher have just announced they have appointed EBG as financial advisors and brokers

Current price 44/47p

Ticking up with the market ...... and some ..... 45/48p on high volume of nearly a million traded

some big delayed trades going through

Fairly strong premarket with the announcement ..... I think it should prove very interesting and lucrative




LONDON (AFX) - Evolution Group PLC said unit IP2IPO Group Ltd, has entered into a partnership deal with King's College London.
Under the agreement, IP2IPO will invest 5 mln stg in spin out companies from King's College London over a five year period in return for equity stakes in those companies and has committed to extend this amount by a further 5 mln by the tenth anniversary of the partnership.

IP2IPO will work with KCL Enterprises Ltd, the College's technology transfer group, to help identify and progress commercialisation opportunities.

It will also upply KCL Enterprises Ltd. with additional resources to augment its existing capabilities.

The company said IP2IPO will receive 20 pct of King's College London's interest in spin out companies and technology licences.