TRANSACTION SUMMARY

On 24 September 2012, Canaccord Financial announced the acquisition of London-based private client investment management business, Eden Financial, to expand its UK wealth management platform: Collins Stewart Wealth Management. Under the terms of the transaction, Canaccord is paying up to £17m, consisting of a cash consideration of up to £12.8m for the business and up to £4m of further staff incentives. Concurrent with this transaction, Eden Financial announced on 1 October 2012 that it had sold its Asset Management business to City Financial Investment Company.

EDEN CONFIDENTIAL

Based in London, Eden Financial Limited is an independent, owner managed private client investment management business with £835m in AUM on behalf of 2,500 clients (as at 31 August 2012).

COLLINS STEWART WEALTH MANAGEMENT

Collins Stewart Wealth Management is an award winning investment manager and stockbroker committed to providing private clients, charities and intermediaries with a broad array of independent wealth management services. Following the acquisition, Collins Stewart Wealth Management will manage and administer approximately £9bn of assets for over 12,000 clients.

CANACCORD FINANCIAL

Canaccord Financial Inc. is a leading independent, full service financial services firm, with operations in two principal segments of the securities industry: wealth management and global capital markets. Canaccord has offices in 12 countries worldwide and is publicly traded on the Toronto Stock Exchange and London Stock Exchange.

CITY FINANCIAL

City Financial Investment Company Limited is a London-based asset management group that has designed a nimble company to bring to advisers and investors a straightforward series of funds managed by individuals who City Financial believe are masters of their craft. City Financial’s funds include Strategic Gilt, Strategic Global Bond, MultiManager Growth, MultiManager Income, MultiManager Diversified, MultiManager Dynamic, UK Equity Income and UK Equity, and the institutional only fund, City Financial Asian Absolute Growth Fund.

ROLE

SHP acted as financial adviser to Eden Financial.