Merchant House Group, the AIM-listed financial services group, has suspended trading in its shares.
The reason for the suspension is unclear, although the firm said it will shortly make an annoucement relating to its shares. On 10 February the FSA took action against Pritchard Stockbrokers. Pritchard had been acting as custodian of the structured products division of Merchant Capital, a division of Merchant House Group. Merchant Capital took action to find a new custodian and appointed Reyker Securities to the role on 9 March, but although all non-cash assets were moved to Reyker, client cash remains frozen. Merchant has been working with joint administrators, Timothy Ball, Roder...
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