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Date: Friday 07 Mar 2008

LONDON (ShareCast) - St Helen’s Capital, an institutional stockbroker and corporate finance adviser to smaller companies, has completed its move to AIM from PLUS via an introduction.

The firm said it hopes the listing will raise the group’s profile within target corporate and institutional markets.

It is currently corporate broker to 12 AIM quoted companies and 34 on PLUS.

Results for the six months ended 30 September 2007 showed pre-tax profits of £1.13m on turnover of £2.3m. Cash reserves as at 22 February 2008 were approximately £2m.

“With increased visibility and improved liquidity, our transition from PLUS to AIM marks an important step in our strategy to further strengthen our presence in the small cap arena and attract high-quality individuals to the team,” said boss Ruari McGirr.

“Our financial performance has been strong and we believe we have the skills and ambition for profitable expansion and the ability to deliver healthy returns to our shareholders,” he added.

Mike Clare, founder of Dreams, is mulling a sale or stock market flotation for the beds retailer.

Clare, who started the company in the mid-1980s, is said to be looking at a stock market listing that could value the group at up to £500m, according to the Independent on Sunday.

Meanwhile, the Sunday Telegraph reported that the company is on the verge of agreeing a £200m deal with private equity firm Exponent.

Clare told the paper that no deal had yet been agreed and that three potential buyers remained in the frame. “I might decide not to sell at all,” he added. Other bidders are said to include Change Capital Partners and Hg Capital.

Former Dixons chief executive John Clare, who is no relation, is understood to become the group's chairman once any deal is completed.

A potential deal could be agreed ahead of the proposed changes to the Capital Gains Tax regime in April, which would cut the sum that Clare could bank from the deal.

Dreams, which has its head quarters in High Wycombe, operates more than 170 stores across Britain.