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14.10.07
Brooklands Securities statement regarding Pacific Continental more

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Welcome To Brooklands

Welcome you to the Brooklands Group which was established to provide a personal and professional service to investors and corporate finance clients on an international basis.

The Board of Brooklands Securities, together with its corporate advisers, has today decided to make a statement which is designed to counter a variety of factual inaccuracies appearing in the media.

 

There is absolutely no connection whatsoever between Pacific Continental Securities which entered administration on 20th June 2007 and Brooklands Securities.

By way of background, some assets from Pacific Continental were indeed acquired by the directors of Caspian Stockbrokers from the Administrators. The consideration in this transaction was properly approved by the FSA and both parties were properly represented.

Caspian Stockbrokers has not become a successor to the business of Pacific Continental as all the client accounts have remained with the Administrator. None of the previous shareholders and directors of Pacific Continental have remained in, or maintain, any relationship with the present shareholders and directors of Caspian Stockbrokers.

Caspian Stockbrokers did after careful review and proper screening re-hire certain of the former employees of Pacific Continental. The business strategy of Caspian Stockbrokers had nothing in common with the way Pacific Continental Securities was operating and indeed Caspian Stockbrokers has assisted the FSA in its inquiry into the abuses at Pacific Continental.

Once this process was completed, Caspian Securities decided to re-brand as Brooklands Securities, so as to establish a new and powerful commercial identity going forward. Brooklands Securities has been retained as a financial adviser in respect of a number of major international corporate finance transactions and is in the process of establishing strategic relationships with major City financial institutions. Although Brooklands Securities occupies the old commercial premises, this is because the offices have been fully fitted out for operating a financial trading business.

The Executive Chairman of Brooklands Securities is Stephen Alexander, who founded Class Law Solicitors and who is well-known for his representation of the minority shareholders.

A further statement will be issued following Brooklands Securities formal regulation under the FSA rules and in the meantime continues to invest in the compliance requirements.


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