18 May 2012 14:19
Share plc
Proposed transfer of the customer base of JPJShare.com
Share plc (AIM: SHRE), whose principal business is The Share Centre Limited, one of the leading independent UK stockbrokers, notes the announcement made today by Rivington Street Holdings plc (RSH) (PLUS: RIVP).
RSH has decided to close its online share dealing service JPJShare.com and Share plc has entered into a non-binding agreement to transfer the customer base of the JPJShare.com business to The Share Centre Limited. Share plc expects that the transaction will be earnings enhancing.
The Share Centre is pleased to have the opportunity to offer to the customers of JPJShare.com the high quality and competitively priced services already enjoyed by over 220,000 personal investors. The Share Centre also notes that those customers will benefit from the fact that The Share Centre is regulated by the Financial Services Authority (FSA) and their investments going forward will be covered by the Financial Services Compensation Scheme (FSCS).
The agreement is still subject to due diligence with completion of the transaction expected by mid June. An update will be made to the market at this time. The Share Centre is committed to working closely with the management of RSH to ensure the smooth and safe transfer of all customer assets.
For further information please contact:
Share plc | ||
Gavin Oldham, Chief Executive | 01296 439 100 | 07767 337 696 |
Richard Stone, Finance Director | 01296 439 270 | 07919 220 599 |
Stephanie Reynolds, PR Manager | 01296 439 256 | |
Peel Hunt LLP, Nominated Adviser and Broker | 020 7418 8900 | |
Guy Wiehahn | ||
Biddicks Financial Public Relations | 020 3178 6378 | |
Zoe Biddick / Sophie McNulty |