Message #15 From:
NewsBot Date: January 16, 2007 08:10:00 AM
TLYH News Tally-Ho Ventures Provides Update on Activities
LUXEMBOURG--(BUSINESS WIRE)--Tally-Ho Ventures, Inc., (OTCBB: TLYH) President and Chief
Executive Officer Nigel Gregg today provided an update on the Company’s
recent activities and plans for the year ahead.
Mr. Gregg noted that in 2006, Tally-Ho Ventures continued its roll-up
strategy of acquiring diversified wealth management organizations with
the purchase of ProTrust Private Clients in August (now known as
MasterTrust). Tally-Ho Ventures’ first
acquisition was Master Finances Europe in October 2005. In less than a
year, he said, Tally-Ho Ventures grew assets under management to U.S.
$1.85 billion and joined an elite group of wealth management
institutions globally. The Company is achieving its goal of becoming one
of the leading European wealth management firms through strategic
acquisitions and by combining in-house resources to create economies of
scale in its back office operations, Mr. Gregg said. In addition, he
said, the Company is achieving growth by adding institutional and high
net worth investors to its client base.
While Tally-Ho, the parent company, and its subsidiaries have existed as
a single entity for less than a year, Mr. Gregg pointed out that both
MasterTrust and Master Finance have more than 40 years combined
experience in operating as wealth management entities. “With
this in mind, we are pleased to reiterate that Tally-Ho expects net
profits for 2006 of $2.1 million, or $0.13 per share, based on current
shares currently outstanding,” Mr. Gregg
said. “These projections reflect full year
earnings from Master Finance but only 3 (three) months of earnings from
MasterTrust. With the proven operations of both, our confidence level is
very high for 2007.”
Tally-Ho Ventures is carrying over this strong performance into 2007,
according to Mr. Gregg. “The recent
acquisition of Primus Produkt & Vertriebs Management SA of Lugano,
Switzerland, was completed on January 10th for U.S. $1 million. The
acquisition is anticipated to add U.S. $1 million or $.06 cents per
share in net profits for 2007, based on currently outstanding shares,
and brings total assets under management for Tally-Ho to approximately
U.S. $2.25 billion,” he said.
For 2007, Mr. Gregg said, the Company will focus on integrating its
recent acquisitions and continue its internal growth as well as seeking
other synergistic and accretive acquisitions in a disciplined manner.
The Company is also pursuing the granting of a fund distribution license
for MasterTrust in Switzerland, which would permit an expansion of
product offerings to the Company’s client
base, he said.
Mr. Gregg also noted that shareholder approval would be sought to change
the name of the company to Premier Wealth Management Corp., a name that
more accurately reflects the Company’s
direction, he said. “It is also our intent to
work toward a listing of the Company’s shares
on a broader exchange in the United States or United Kingdom and to
explore the feasibility of a stock buy-back program,”
he said.
“Going forward, we will continue to add
seasoned wealth management executives to the Board of Directors and to
Tally-Ho’s management team,”
Mr. Gregg said. “With a strategic plan in
place, we have every confidence that 2007 will be a year of significant
development and growth for the Company and its shareholders.”
Mr. Gregg also stated that there is a new phone number for the company
in the United States – 305-421-6371 –
and that all contact and comments would be welcome.
About Tally-Ho Ventures, Inc.
Tally-Ho Ventures is an independent international private wealth
management organization focused on serving the needs of small
institutions and high net-worth individuals throughout the world.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Act of 1934 that are based upon current expectations or
beliefs, as well as a number of assumptions about future events.
Although the Company believes that the expectations reflected in the
forward-looking statements and the assumptions upon which they are based
are reasonable, it can give no assurance that such expectations and
assumptions will prove to have been correct. The reader is cautioned not
to put undue reliance on these forward-looking statements, as these
statements are subject to numerous factors and uncertainties, including
without limitation, the independent authority of the special committee
to act on the matters discussed, the successful negotiation of the
potential acquisition and disposal of transactions described above,
successful implementation of the company's business strategy and
competition, any of which may cause actual results to differ materially
from those described in the statements. In addition, other factors that
could cause actual results to differ materially are discussed in the
Company's most recent Form 10-QSB and Form 10-KSB filings with the
Securities and Exchange Commission.
