UK listed Alltrue Investments is to establish a new stockbroking business, Montague Pitman.

UK listed Alltrue Investments is to establish a new stockbroking business, Montague Pitman which has obtained regulatory approval to act as an appointed representative through Alltrue's wholly owned stockbroking business, Falcon Securities. Montague Pitman has been founded by Richard Beese, David White and Thomas Knifton (who is the adult son of Alltrue's Chairman, Leo Knifton) to provide real time professional private client stockbroking advice covering all major UK indices, including the FTSE 100, All Share, AIM and PLUS Markets as well as on EPs, ISAs ,CFDs and spread betting. Montague Pitman will initially be owned by Alltrue (57.9 per cent), external founding investors (33.4 per cent) and the balance held substantially by the founders of Montague Pitman who have been granted options to subscribe for further new ordinary shares in Montague Pitman provided certain performance targets are achieved. If all targets are achieved and all performance related options are exercised then Alltrue's interest in Montague Pitman will reduce to 51 per cent. Blue Chip Consult, a BVI registered company controlled by a private investor, has taken a minority stake as the main founding investor.