TIDMCPP

RNS Number : 1487P

CPPGroup Plc

15 October 2021

15 October 2021

CPPGroup Plc

("CPP Group" or the "Company")

Directorate Changes and Trading Update

CPP Group (AIM: CPP), the multinational provider of personal protection and insurance products and services, today announces that Mark Hamlin and Timothy Elliott will be stepping down from the Board and their positions as Non-Executive Directors and leaving the Company with effect from 30 November 2021.

The Board plans to appoint two new independent non-executive directors as soon as possible and will commence the search immediately. Updates will be issued, as appropriate, in due course.

Chairman, David Morrison, commented:

"I would like to thank Mark and Tim for their significant contributions to the progress that has been made by the Company over the last few years. I wish both of them all the best for their future endeavours."

Trading update

The Group is pleased to note that it has made good progress in Q3.

The Indian business has recovered strongly during Q3, following the national lockdown in April and May, which is expected to provide momentum for a good trading performance in Q4. Globiva, our business process management company, has continued to grow during the period.

The renewal performance in our UK and European back book businesses has remained robust which continues to provide the Group with reliable, albeit reducing, cash flows.

The Group's performance in Q3 and positive outlook gives the Board confidence that the Company is trading in line with market expectations for the full year.

Enquiries:

 
 CPPGroup plc 
  Jason Walsh, Chief Executive     Tel: +44 (0)77 6437 8580 
  Officer 
 Liberum Capital Limited 
  (Nominated Adviser and Sole      Tel: +44 (0)20 3100 2000 
  Broker) 
  Richard Lindley 
  Lauren Kettle 
  Kane Collings 
  Christopher Whitaker 
                                --------------------------- 
 Alma PR 
  (Financial PR Adviser)           Tel: +44 (0)20 3405 0205 
  Josh Royston 
  David Ison 
  Kieran Breheny 
  Faye Calow 
                                --------------------------- 
 

About CPP Group:

CPP Group takes away many of the stresses and strains of daily life for millions of people across the globe. In collaboration with selected partners in each country in which the Group operates, it develops, aggregates, offers and supports a range of personal protection and insurance products, which are sold alongside, or packaged with, the core product offerings of the Group's partners. CPP is listed on AIM, operated by the London Stock Exchange.

For more information on CPP visit https://international.cppgroup.com/

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