Merchant House shares suspended from AIM

Trading in the group’s shares was suspended this morning pending an announcement.

The Merchant House Group includes IFA network Merchant House Financial Services, Merchant Funds and structured product provider Merchant Capital.

The listed company recently announced that it had moved client assets of Merchant Capital to Reyker Securities from Pritchard Stockbrokers, after the latter had its regulatory permission removed by the Financial Services Authority (FSA) and was put into special administration.

According to Merchant House Group, 100% of non-cash assets belonging to Merchant Capital clients worth approximately £310m, were transferred to Reyker.

Cash held by Pritchard has not yet been released, according to the most recent statement.