SHRE.L Regulatory News (SHRE)

Share plc - Press release

Sale of Sharemark

Share plc (AIM:SHRE), parent company of The Share Centre Ltd (one of the UK's leading independent stockbrokers), is pleased to announce the sale of certain assets relating to its Multilateral Trading Facility, Sharemark, to Asset Match Limited ("Asset Match").

Under the terms of the Sale Agreement and an Intellectual Property Assignment, The Share Centre has sold Sharemark Limited, together with its corporate customer contracts, related marketing rights, the Sharemark brand name, domain names and website to Asset Match. The Share Centre will retain the rights to operate the Multilateral Trading Facility, together with intellectual property of the trading algorithm, as well as the regulatory responsibility. Under a Services Agreement, The Share Centre will continue to operate the Multilateral Trading Facility, under the Asset Match brand name, for a two year period. 

The initial consideration payable by Asset Match is £100,000 in cash, plus 1% of the issued share capital of Asset Match. The separate Services Agreement provides for monthly service payments to The Share Centre, together with a share of Asset Match revenues.

Asset Match, which is regulated by the Financial Services Authority, provides an open, transparent electronic platform for trading shares, typically of profitable and proven private UK companies. 

Companies currently trading on Sharemark, including Share plc as supplemental to its AIM quotation, will continue to be traded on Asset Match. Meanwhile, The Share Centre will act as preferred broker and customers will to be able to access the Asset Match trading platform through the share dealing services of The Share Centre or their existing stockbroker. 

Gavin Oldham, Share plc Chief Executive, commented:

"This sale allows Share plc to focus on our core retail stockbroking business as part of the Group's continued drive for revenue growth. We look forward to providing Asset Match with a high quality, customer-focused trading platform, which will enable Asset Match to ensure that it becomes the reference point for prices of private UK company shares. 

"The Share Centre remains committed to the distribution of suitable new issue opportunities to its customer base for companies traded across all markets, as well as facilitating secondary market trading, and we look forward to assisting UK businesses with accessing capital from retail investors to fund their expansion plans and to grow the UK economy."

For further information please contact:

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 Services 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.

Sharemark is an auction-based dealing facility designed primarily for emerging or smaller companies to which a higher investment risk tends to be attached than to larger or more established companies. The securities traded on Sharemark may not be listed. The Sharemark trading facility is operated by The Share Centre Limited. The Share Centre is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority under reference 146768. Sharemark constitutes a Multilateral Trading Facility and is not a recognised investment exchange, clearing house or regulated market within the meaning of the Markets in Financial Instruments Directive.

Notes for Editors:

1 Share plc is the parent holding company of The Share Centre Limited and Sharefunds Limited and its shares are traded on AIM and also on Sharemark (www.sharemark.com), the auction-based trading platform designed especially for growing companies.

2 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.

3 Retail services include Share Accounts, ISAs, CTF accounts and SIPPs, all with the benefit of investment advice, and dealing in a wide range of investments.

4 Services available to corporate clients include share plan administration, fund administration and 'white-label' dealing platforms.

5 For more details contact 0800 800 008, or visit www.shareplc.com or www.share.com.