Last checked at 7 Apr 2020 07:00
7 April 2020
JTC PLC
(the "Company" and together with its subsidiaries "JTC" or the "Group")
Exequtive Partners S.A. ("EP")
JTC, the award winning provider of fund, corporate and private wealth services to institutional and private clients, is pleased to announce that following the acquisition of Exequtive Partners SA in March 2019 the earn out consideration comprising 70% cash and 30% shares based on EP's performance on a sliding scale against Revenue and EBITDA targets for the year ended 31 December 2019 is now payable.
The share consideration payable in relation to the earn out is calculated with reference to JTC's average five day weighted average closing share price up to and excluding the date of application for admission of the shares. The cash element of the earn-out consideration will be funded through JTC's operating cash flows and existing facilities.
Application has been made to the Financial Conduct Authority ("FCA") and the London Stock Exchange, respectively, for the 560,707 new Ordinary Shares of £0.01 each to be admitted to the premium listing segment of the Official List and to trading on the Main Market. It is expected that admission of the shares will become effective and dealings in the shares will commence at 8.00am on Wednesday 8 April 2020. Following admission of the shares the Company will have 114,629,060 Ordinary Shares of £0.01 each in issue. There are no shares held in treasury. Therefore, following admission of the shares the total number of voting rights in the Company will be 114,629,060 (the "Voting Rights Figure"), and this Voting Rights Figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their voting rights interest, or a change to that interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.
JTC listed on the main market of the London Stock Exchange in March 2018. It opened an office in Luxembourg in 2009 to provide a European centre for fund and corporate services and recently enhanced its fund platform through being granted a depositary licence by Luxembourg's Ministry of Finance. This coupled with its ManCo service, significantly strengthens its capabilities in the EU and enables JTC to provide a full 'one-stop-shop' offering meeting regulatory and investor requirements.
Ends.
2019 Full Year Results
JTC will announce its full year results for the year ending 31 December 2019 on Wednesday 22 April 2020.
Enquiries:
JTC PLC +44 (0)1534 700 000
Nigel Le Quesne, Chief Executive Officer
Martin Fotheringham, Chief Financial Officer
David Vieira, Chief Communications Officer
Camarco +44(0)20 3757 4985
Geoffrey Pelham-Lane
Kimberley Taylor
Sophie Boyd