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Charles Stanley Group completes sale of unit

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Charles Stanley Group completes sale of unit

CharlesStanley Group Plc said April 4 that it completed April 1 thesale of wholly ownedsubsidiary Charles Stanley Financial Solutions Ltd. to CS Financial SolutionsHoldings Ltd. for a total consideration of £2 million.

The consideration comprises £1.5 million in cash and£500,000 in loan notes, which are repayable in equal installments over threeyears on the anniversary of the deal's sale date. CharlesStanley Group also said it will incur a small loss on the sale in addition tothe trading losses suffered by Charles Stanley Financial Solutions as of March31.

CS Financial Solutions Holdings represents the managementteam led by Paul McGuckin.