Fintel PLC AGM Trading Statement (7986Z)
18 May 2023 - 4:00PM
UK Regulatory
TIDMFNTL
RNS Number : 7986Z
Fintel PLC
18 May 2023
18 May 2023
Fintel plc
(the "Company" or "Fintel")
Annual General Meeting Statement
Fintel plc (AIM: FNTL), as previously announced, is holding its
Annual General Meeting ("AGM") today at 10:00 at Fintel House, St
Andrew's Road, Huddersfield, HD1 6NA.
TRADING UPDATE
The Company is pleased to report continued trading in line with
the Board's expectations, coupled with operational progress in line
with the company's strategy.
We continue to benefit from a strong balance sheet with our
unaudited net cash position increasing to c. GBP13.6m of net cash
as of 30 April 2023 (31 December 2022: GBP12.8m ), providing
significant flexibility for inorganic and organic growth
opportunities.
The Board remains confident that Fintel's strategy, underpinned
by positive market dynamics, positions it well to deliver strong
and sustainable growth.
We look forward to updating shareholders again in our half year
trading update in July 2023 and interim results in September
2023.
THE BOARD
As previously announced, Ken Davy will be stepping down today
from the role of Chair of the Company and will be succeeded by Phil
Smith, who was Independent Non-Executive Director of Fintel. Ken
will remain on the Board as a Non-Executive Director.
Ken Davy remarked: "I am delighted that Phil is stepping up to
succeed me in the role as Chair of Fintel. Phil brings a wealth of
industry knowledge, leadership qualities and business
transformation experience, fully aligned to the strategic direction
of Fintel. We are confident that Phil will take Fintel to even
greater heights and the Board will fully support him in this
endeavour.
Phil Smith commented: "Having had the pleasure of serving on the
Board of Fintel for the last year, it is my privilege to be taking
over as Chair of this incredible company. I am grateful to Ken for
his ongoing counsel and support and look forward to continuing to
work with him, and the wider Board, as Fintel continues to execute
its growth strategy."
For further information, please contact:
Fintel plc via MHP Group
Matt Timmins (Joint Chief Executive
Officer)
Neil Stevens (Joint Chief Executive
Officer)
David Thompson (Chief Financial
Officer)
Zeus (Nominated Adviser and
Joint Broker)
Martin Green
Dan Bate +44 (0) 20 3829 5000
Investec Bank (Joint Broker)
Bruce Garrow
David Anderson
Harry Hargreaves +44 (0) 20 7597 5970
MHP Group (Financial PR) +44 (0) 20 3128 8147
Reg Hoare Fintel@mhpgroup.com
Robert Collett-Creedy
Notes to Editors
Fintel is the UK's leading fintech and support services business,
combining the largest provider of intermediary business support,
SimplyBiz, and the leading research, ratings and Fintech business,
Defaqto.
Fintel provides technology, compliance and regulatory support
to thousands of intermediary businesses, data and targeted
distribution services to hundreds of product providers and
empowers millions of consumers to make better informed financial
decisions. We serve our customers through three core divisions:
The Intermediary Services division provides technology, compliance,
and regulatory support to thousands of intermediary businesses
through a comprehensive membership model. Members include
directly authorised IFAs, Wealth Managers and Mortgage Brokers.
The Distribution Channels division delivers market Insight
and analysis and targeted distribution strategies to financial
institutions and product providers. Clients include major
Life and Pension companies, Investment Houses, Banks, and
Building Societies.
The Fintech and Research division (Defaqto) provides market
leading software, financial information and product research
to product providers and intermediaries. Defaqto also provides
product ratings (Star Ratings) on thousands of financial products.
Financial products are expertly reviewed by the Defaqto research
team and are compared and rated based on their underlying
features and benefits. Defaqto ratings help consumers compare
and buy financial products with confidence.
For more information about Fintel, please visit the website:
www.wearefintel.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTUBOWRONUVAAR
(END) Dow Jones Newswires
May 18, 2023 02:00 ET (06:00 GMT)
Fintel (LSE:FNTL)
Historical Stock Chart
From Apr 2024 to May 2024
Fintel (LSE:FNTL)
Historical Stock Chart
From May 2023 to May 2024