Share PLC Acquisition of customer accounts from J.P. Morgan
09 Aprile 2019 - 10:00AM
RNS Non-Regulatory
TIDMSHRE
Share PLC
09 April 2019
9 April 2019
AIM: SHRE
Share plc
("Company")
Acquisition of customer accounts
from J.P. Morgan Asset Management
Share plc, which operates The Share Centre Limited ("The Share
Centre"), a leading UK independent retail stockbroker, announced on
8 August 2018 that it had agreed to acquire an active book of
accounts covering almost 20,000 customers and over GBP750m of
assets under administration, predominantly Investment Trusts. The
Company is now pleased to disclose that the book of accounts being
acquired is from J.P. Morgan Asset Management, one of the world's
leading global financial services firms. The transfer of accounts
is expected to start in September 2019, with activity flowing
through immediately.
The Share Centre is a strong advocate of investment trusts.
Having launched its preferred list of investment trusts in 2016, it
provides research and information services to assist personal
investors navigate the market. This acquisition further underpins
The Share Centre's position as a leading provider of administration
services to those investment trust managers wanting to ensure that
retail investors have the best possible service when choosing to
invest in their products.
Richard Stone, Chief Executive of Share plc, commenting on the
acquisition, said:
"I am delighted to announce the strategic acquisition of a book
of accounts we previously reported on a no-names basis is from J.P.
Morgan, one of the world's leading global financial services firms.
It is a privilege to have been chosen by the company as the best
home for their investment trust customers and we look forward to
helping these customers work towards their investment goals.
"The Share Centre is an execution-only stockbroker that provides
substantial resources and guidance on our website to help personal
investors, but fundamentally our customers make their own
investment decisions. Established in 1990, our platform has grown
successfully and the business now serves approximately 300,000
customers with over GBP5bn of assets.
"We provide two services - custody (we provide a safe home for
our customers' investments) and trading (we facilitate the trading
of those assets). Importantly, we charge a flat fixed account fee,
which does not penalise investors when they invest more or see the
value of their investments rise, and a low dealing commission.
"We have a proud history of campaigning for the interests of
personal investors. For example, this included the successful
enfranchisement of nominee shareholders. The acquisition of the
customer base of J.P. Morgan is in line with our stated aim of
growing our business through strategic acquisitions and
partnerships and continues our efforts to support personal
investors.
"At the heart of our business is the customer relationship and
high quality customer service is central to all that we do. We have
an experienced team, are proud of the service we offer and look
forward to providing customers of J.P. Morgan and investors in J.P.
Morgan investment trusts with a secure home and trading service for
their investments."
Simon Crinage, Head of Investment Trusts at J.P. Morgan Asset
Management, commented:
"After careful consideration, we concluded The Share Centre
would be best placed to offer a comprehensive, high quality client
service, with an array of features and functionality which will
provide an optimal outcome for J.P. Morgan investment trust
clients."
For further information please contact:
Share plc
01296 439 270 / 07919
Richard Stone, Chief Executive 220 599
Mike Birkett, Finance Director 01296 439 479
Cenkos Securities plc (Nominated
Adviser and broker) 020 7397 8900
Mark Connelly
KTZ Communications (Financial Public
Relations)
Katie Tzouliadis / Dan Mahoney 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.
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END
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