IFG Group plc: Q1 2019 TRADING UPDATE (808535)
May 09 2019 - 5:15PM
UK Regulatory
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release.
IFG Group plc (IFP)
IFG Group plc: Q1 2019 TRADING UPDATE
09-May-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
IFG Group plc ("IFG" or the "Group")
Q1 2019 TRADING UPDATE
09 May 2019
IFG will hold its Annual General Meeting at 12 noon today. At the meeting,
Kathryn Purves, CEO, will make the following statement:
"I am pleased to report that since publication of the Scheme Document on 9
April 2019, in relation to the proposed acquisition of IFG by Epiris, the
Group has continued to trade in line with expectations and there is no
change to outlook.
James Hay now serves almost 59,000 customers (up 0.21% from 31 March 2018
and 0.14% from 31 December 2018). Assets under Administration at 31 March
2019 were GBP26.1bn - up 2.8% from 31 March 2018 and 3.2% higher than 31
December 2018 (GBP25.3bn) with positive market movements of GBP0.6bn during the
quarter offsetting the adverse market movements experienced in Q4 2018.
Saunderson House achieved 63 new client wins across both advisory and
discretionary management services in the 3 months to 31 March 2019 and now
serves 2,385 clients, up 7.7% from March 2018 and up 1.8% on 31 December
2018. Assets under Advice at 31 March 2019 were GBP5.1bn - in line with 31
March 2018 and up 4.8% on 31 December 2018.
The Group remains focused on resolving its legacy issues, however, at this
stage there is no further update in relation to the Elysian Fuels matter in
James Hay."
Enquiries:
Kathryn Purves Group Chief Executive +44(0) 203 8876181
Gavin Howard Group Chief Financial Officer +44(0) 203 8876181
Joint Corporate Brokers:
Charlotte Craigie Goodbody Stockbrokers UC +44 203 841 6202
Nicholas Harland Macquarie Capital (Europe) Ltd +44 203 037 2369
Notes to the editors:
IFG Group plc provides a range of financial solutions through its
subsidiaries, James Hay Partnership and Saunderson House Limited. James Hay
is a leading retirement wealth planning platform and Saunderson House is an
award winning independent financial adviser.
Responsibility
The IFG Directors accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the IFG
Directors (who have taken all reasonable care to ensure such is the case),
the information contained in this announcement for which they accept
responsibility is in accordance with the facts and does not omit anything
likely to affect the import of such information.
This announcement is not intended to, and does not, constitute or form any
part of any offer or invitation, or the solicitation of an offer, to
purchase or otherwise acquire or subscribe for any securities pursuant to
the Acquisition or otherwise, nor shall there be any sale, issuance or
transfer of securities, in any jurisdiction in contravention of applicable
Law. This announcement does not constitute a prospectus or a prospectus
equivalent announcement.
Terms defined in the Scheme Document have the same meaning when used in this
Announcement.
No Profit Forecasts, Estimates, or Asset Valuation
No statement in this announcement is intended to constitute a profit
forecast or estimate for any period, nor should any statements be
interpreted to mean that earnings or earnings per share will necessarily be
greater or lesser than those for the relevant preceding financial periods.
No statement in this announcement constitutes an asset valuation.
Cautionary Statement Regarding Forward-Looking Statements
This announcement contains forward-looking statements. All statements other
than historical facts are forward-looking statements, including statements
regarding anticipated future results, or other non-historical facts. They
may be identified by the words "will," "may," "could," "would," "to be,"
"might," "believe," "anticipate," "expect," "plan," "estimate," "forecast,"
"future," "positioned," "potential," "intend," "continue," "remain,"
"scheduled," "outlook," "set to," "subject to," "upcoming," "target" or
similar expressions. These statements are based on current views,
expectations, estimates and assumptions and are subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed in the forward-looking statements. If one or more of these
risks or uncertainties materialise, or if underlying views, expectations,
estimates or assumptions prove to be incorrect, actual results may differ
materially from those contemplated by a forward-looking statement.
In addition, actual future results and other future circumstances of IFG are
subject to other risks and uncertainties that relate more broadly to IFG's
business, including its future results of operations and financial position;
ability to continue as a going concern; its ability to execute its business
strategy, including obtaining successful pivotal study results, developing
its pipeline of product candidates, completing facilities upgrades,
manufacturing its own product candidates, meeting conditions for the receipt
of government grants, making timely regulatory submissions, and qualifying
for conditional licensure or obtaining product approvals; and those risks
and uncertainties discussed in IFG's most recent Annual Report.
There may be additional risks that IFG do not presently know or currently
believe are immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date on which they are made. IFG expressly
disclaims any obligation to update or revise any forward-looking statement,
except as required by Law.
Rule 8 Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Rules, if any person is, or
becomes, "interested" (directly or indirectly) in, 1% or more of any class
of "relevant securities" of IFG, all "dealings" in any "relevant securities"
of IFG (including by means of an option in respect of, or a derivative
referenced to, any such "relevant securities") must be publicly disclosed by
not later than 3.30 p.m. (Irish time) on the "business day" following the
date of the relevant transaction. This requirement will continue until the
Offer Period ends. If two or more persons co-operate on the basis of any
agreement, either express or tacit, either oral or written, to acquire an
"interest" in "relevant securities" of IFG, they will be deemed to be a
single person for the purpose of Rule 8.3 of the Takeover Rules.
Under the provisions of Rule 8.1 of the Takeover Rules, all "dealings" in
"relevant securities" of IFG by Epiris or Bidco, or by any party acting in
concert with any of them, must also be disclosed by no later than 12 p.m.
(Irish time) on the "business day" following the date of the relevant
transaction.
A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, can be found on the Irish
Takeover Panel's website at www.irishtakeoverpanel.ie.
"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest"
by virtue of the ownership or control of securities, or by virtue of any
option in respect of, or derivative referenced to, securities.
Terms in quotation marks above are defined in the Takeover Rules, which can
also be found on the Irish Takeover Panel's website
www.irishtakeoverpanel.ie.
If you are in any doubt as to whether or not you are required to disclose a
"dealing" under Rule 8, please consult the Irish Takeover Panel's website at
www.irishtakeoverpanel.ie or contact the Irish Takeover Panel on telephone
number +353 1 678 9020 or fax number +353 1 678 9289.
Rounding
Certain figures included in this announcement have been subjected to
rounding adjustments. Any figures shown for the same category presented in
different tables may vary slightly and figures shown as totals in certain
tables may not be an arithmetic aggregation of the figures that precede
them.
ISIN: IE0002325243
Category Code: TST
TIDM: IFP
LEI Code: 213800DDLICUJ14JTY47
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 8546
EQS News ID: 808535
End of Announcement EQS News Service
(END) Dow Jones Newswires
May 09, 2019 17:15 ET (21:15 GMT)
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