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28 Apr 2021 07:00
28 April 2021
Fintel plc
(the "Company")
AGM STATEMENT, CHAIRMAN APPOINTMENT & TRADING UPDATE
Fintel plc (AIM: FNTL) is holding its Annual General Meeting ('AGM') at 12:30 today. In line with the Government's current COVID-19 guidance, the Company's AGM will be held as a closed meeting at Fintel House, St Andrew's Road, Huddersfield, HD1 6NA with the minimum required quorum present to conduct the business of the meeting.
TRADING UPDATE
The Company is pleased to report robust trading in Q1 FY21. Since our last update in March the business continues to trade strongly, increasing our overall confidence for the full year. Our strong cash conversion in the period has also continued to strengthen our balance sheet with net debt to EBITDA* reducing to 1x at the end of Q1**.
Half year results are expected to be published w/c 20th September 2021.
THE BOARD
As previously announced, Ken Davy will be stepping down today from the role of Chairman to be succeeded by Gary Hughes. Ken will now take on the role of Deputy Chairman.
Ken Davy remarked: "I am delighted that Gary is stepping up to the role as Chairman of Fintel. Gary is a highly experienced individual who has a track record of delivering significant shareholder value. I look forward to supporting him, and the rest of the Board, as Fintel continues to grow and develop."
Gary Hughes commented: "Having had the pleasure of serving on the Board of Fintel for the last two years, it is my privilege to be taking over as Chairman of this fantastic company. I thank Ken, as the father of Fintel, for his ongoing counsel and support and I look forward to continuing to work with him, and the wider Board, as Fintel moves forward into the future."
The Board are also pleased to announce that Imogen Joss, who joined the Board as Non-Executive Director in January 2021 will succeed Gary Hughes as the Company's Senior Independent Non-Executive Director with effect from today.
* Adjusted EBITDA is earnings before interest, tax, depreciation, amortisation, share option charges and operating exceptional costs.
** Net debt to EBITDA is calculated on a last 12 months basis to 31 March 2021.
For further information please contact:
Fintel plc via Instinctif Partners
Matt Timmins (Joint Chief Executive Officer)
Neil Stevens (Joint Chief Executive Officer)
Zeus Capital (Nominated Adviser and Joint Broker) +44 (0) 20 3829 5000
Martin Green
Dan Bate
Pippa Hamnett
Liberum (Joint Broker) +44 (0) 20 3100 2222
Cameron Duncan
James Greenwood
Ed Phillips
Instinctif Partners (Financial PR) +44 (0) 78 3767 4600
Mark Walter Fintel@instinctif.com
Lewis Hill
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