SHRE.L Regulatory News (SHRE)

AIM: SHRE

Share plc

("Share" or the "Group")

Announces

Intention to transfer Authorised Corporate Director

Share (AIM: SHRE.LN), a leading UK independent retail stockbroker which operates The Share Centre and Sharefunds, is pleased to announce that it is in advanced discussions to transfer its non-core Authorised Corporate Director ("ACD") role to another party. It is expected that this transfer, along with fund administration and transfer agency services, will take effect by August 2016, subject to regulatory approval by the FCA. The move impacts eight funds for which Share acts as ACD through its Sharefunds subsidiary. Given the small scale of these activities, the transfer is expected to have minimal impact on the Group's revenues and profitability.

Having previously outsourced the fund administration activities, Share's proposed exit of its ACD role is in line with the Group's strategy to focus on its core retail stockbroking business and reduce its historic non-core activities. The exit also reduces the Group's risk exposure.

The Group will continue to act as fund manager to, and earn management charges from, its three Fund of Funds, the SF Cautious, SF Positive and SF Adventurous funds. These funds, which collectively manage c. £50m, performed extremely well in 2015, with the Cautious and Adventurous funds ranking first out of over 130 other funds in their sectors and the Positive fund ranking third.

Richard Stone, Chief Executive of Share plc, commented:

"The Group's strategy has three elements - putting customers first, focus on the core business and undertaking strategic partnerships or acquisitions. Focus on our core retail stockbroking business is important and the Group is now taking the opportunity to reduce further its exposure to non-core activities.

We have always had a good relationship with the Fund Managers of the funds for whom we are ACD, but through working with a specialist ACD provider we believe those funds will be better able to flourish in the interests of unitholders. We wish all the funds well for the future.

Our own three funds of funds continue to be an important aspect of our customer proposition. They provide an easy access point to the market for investors and have been going from strength to strength over recent times, not least as a result of their strong performance. We will continue to manage these funds and seek to further their growth and maintain their strong performance in the future."