TIMELINE-Gartmore seeks merger, sale amid talent exodus

Nov 8 (BestGrowthStock) – Fund manager Gartmore (GRTR.L: ) is in the
frame for a merger or sale, as it deals with an exodus of
top-level talent within a year of listing. [ID:nLDE6A70K3] Here
is a Gartmore timeline for the past year.

Nov 20, 2009 — Gartmore says it will float in December on
the London Stock Exchange to reduce its net debt to about 150
million pounds ($242.7 million).

Nov 20, 2009 — Sources reveal Gartmore aims to raise up to
300 million pounds in the country’s largest initial public
offering (IPO) of the year, valuing the fund manager at 1
billion pounds.

Dec 9, 2009 — Bankers says IPO is fully covered.

Dec 11, 2009 — Gartmore lowers price guidance on IPO to
220-250 pence, from 250-330 pence, after investors balked at the
valuation.

Dec 11, 2009 — Gartmore announces its IPO price at 220
pence.

Dec 14, 2009 — Shares sink to 212 pence on its market
debut.

March 9, 2010 — Gartmore reports pre-tax profits for 2009,
against losses in 2008, and says it had seen strong net inflows.

March 30, 2010 — Gartmore suspends star manager Guillaume
Rambourg as it carries out an internal investigation for breach
of internal procedures by directing dealers to use favoured
brokers. Shares fall by 11 percent.

Apr 1, 2010 — Star fund manager Roger Guy says he will stay
at Gartmore despite misgivings about the handling of Rambourg’s
suspension. He says he is “totally committed to the firm.”

Apr 2, 2010 — Italian market regulator Consob says it fined
Rambourg in February for market abuse.

Apr 6, 2010 — Gartmore seals a joint venture with fund
manager Hermes (HRMS.PA: ) to combine private equity fund of
funds.

Apr 15, 2010 — Ken Kinsey-Quick, an early backer of star
Gartmore fund manager Roger Guy pulls money from one of his
funds following Rambourg’s suspension.

Apr 28, 2010 — Rambourg returns to Gartmore as analyst,
share price leaps.

May 14, 2010 — Gartmore says it had seen more than 1
billion pounds withdrawals in the wake of the Rambourg’s
suspension.

June 1, 2010 — UK financial regulator FSA says it will
launch its own probe into Rambourg, shares fall.

July 10, 2010 — Rambourg quits to focus on FSA probe.

Sept 1, 2010 — Smaller companies fund manager Gervais
Williams resigns.

Sept 27, 2010 — Gartmore Growth Opportunities Fund to wind
up and merge with Artemis Alpha.

Nov 8, 2010 — Gartmore says Roger Guy is set to retire from
day-to-day management, and that Chief Investment Officer (CIO)
Dominic Rossi will resign to join another manager. Gartmore
appoints Goldman Sachs (GS.N: ) to carry out a strategic review.
Shares in the fund manager shed a fifth of their value. For a
graphic charting the Gartmore share price and key events since
its IPO, click [http://r.reuters.com/get34q]

Nov 8, 2010 — Fidelity International says Rossi to join as
CIO of equities.
(Writing by Cecilia Valente, Editing by Sinead Cruise)
($1=.6179 Pound)

TIMELINE-Gartmore seeks merger, sale amid talent exodus