31 Aug 2017 14:56
31 August 2017
AIM: SHRE
Share plc
("Share" or "the Company")
Re: Partnership Agreement & Trading Update
Share, which operates The Share Centre Limited, a leading independent UK stockbroker, announces that it is to receive a one-off payment of £900,000 in 2017 as a result of product development work completed, but now not progressing. This work was carried out for a prospective new partner previously announced by the Company. The prospective partner has decided not to proceed with the launch of that product at this point in time. The relationship between the two parties remains strong.
Given the above, the Company anticipates that reported performance for the current financial year will now be materially ahead of current market expectations. The Company will exclude this one-off gain when reporting underlying profitability to ensure appropriate year-on-year comparisons. The Company also reports that current trading remains strong, in line with market expectations, and substantially ahead of the same period last year.
Partnerships and strategic acquisitions remain an important element of the Company's growth strategy and Share remains actively engaged in a pipeline of opportunities. Given the number of material third party relationships now established, including with Barclays and Computershare, the Company is pleased to announce that, subject to regulatory approval, the Board of The Share Centre Limited has decided to appoint Linda Roberts as Director of Partnerships and Change. Linda has worked for The Share Centre for nearly eight years, most recently as Head of Business Services, where she held overall responsibility for the project management of all major change projects and third party service implementations.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information please contact:
Share plc | |
Richard Stone, Chief Executive | 01296 439 270 / 07919 220 599 |
Mike Birkett, Finance Director Joe Dumont, Head of Corporate Communications | 01296 439 479 01296 439 426 |
Cenkos Securities plc (Nominated Adviser and broker) | 020 7397 8900 |
Ivonne Cantu / Mark Connelly | |
KTZ Communications (Financial Public Relations) Katie Tzouliadis / Irene Bermont-Penn / Emma Pearson | 020 3178 6378 |
About Share plc:
Share plc is the parent holding company of The Share Centre Limited and its shares are traded on AIM. The Share Centre started trading in 1991 and provides a range of account-based services to enable investors to share in the wealth of the stock market. Retail services include share accounts, ISAs, Junior ISAs and SIPPs, all with the benefit of investment advice, and dealing in a wide range of investments. Services available to corporate clients include Enterprise Investment Scheme administration and 'white-label' dealing platforms.
For more details contact 0800 800 008, or visit www.shareplc.com or www.share.com
Risk Warning
This document is not intended to constitute an offer or agreement to buy or sell investments and does not constitute a personal recommendation. The investments and services referred to in this document may not be suitable for every investor and if in doubt independent financial advice should be sought. No liability is accepted whatsoever for any loss howsoever arising from any information in this document subject to the rules of the Financial Conduct Authority or the Financial Services and Markets Act 2000. Share prices, values and income can go down as well as up and investors may get back less than their initial investment. The Share Centre is a member of the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority under reference 146768.