REG - Anexo Group PLC - Major Claims Contract and Appointment of Director

AnexoAnnouncement

25/11/2021 07:00

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RNS Number : 5026T  Anexo Group PLC  25 November 2021

 For immediate release  25 November 2021

 

Anexo Group plc

('Anexo' or the 'Group')

 

Major Claims Contract with MCE Insurance

 

Appointment of Director

 

Anexo Group plc (AIM: ANX), the specialist integrated credit hire and legal
services provider, is delighted to announce that it has signed a major
agreement with UK-based broker MCE Insurance ('MCE') to offer post-accident
claims services to all MCE's non-fault insurance customers. This follows motor
insurer Sabre Insurance Group plc signing an agreement with MCE which will see
it become the exclusive underwriter of MCE's motorcycle policies.

 

UK-based MCE is independently owned and since its foundation in 1975 has grown
to become one of the UK's largest providers of motorcycle insurance. Under the
terms of the agreement, Anexo will assume responsibility for dealing with
claims from customers of MCE who are victims of non-fault accidents.
Replacement motorcycles will be provided through Anexo's credit hire division,
DAMS, and customers will be supported in their legal claims against the
at-fault insurer by its legal services division, Bond Turner. Where
appropriate, claims will include personal injury and damage to possessions and
equipment as well as vehicle repair or replacement. Statistics show that
motorcyclists are particularly vulnerable to personal injury as a result of
non-fault accidents.

 

Anexo expects the agreement to lead to a significant increase in both the
number of vehicles on the road and the number of cases being handled by Bond
Turner. The agreement, which is for an initial three-year period, is expected
to have a materially positive impact on revenues and to enhance earnings from
FY 2022.

 

Alan Sellers, Executive Chairman of Anexo, said:

"We are delighted to sign this significant agreement with MCE Insurance. We
have a long track record of providing replacement vehicles and claims support
to the motorcycle community and our motorcycle numbers have been growing,
particularly due to the increasing volume of couriers on the road during the
COVID pandemic. The agreement provides a substantial source of new business in
addition to the introductions we currently receive from our network of over
1100 introducer garages. It represents a major contribution to our growth
strategy as we work to expand our business and create value for all our
shareholders."

 

Julian Edwards, Chief Executive Officer of MCE, said:

"Our customer service is our biggest priority at MCE. Partnering with Anexo
gives us access to seamless claims management, replacement vehicles and legal
services for our customers. This deal means we can focus our efforts on
growing the broker business, knowing we have scalable, first class claims
handling service from a group of leading companies."

 

 

Director Appointment

 

The Group is pleased to announce, with immediate effect, the appointment of
Brian Corrway, to the Board as a Non-Executive Director.

Mr Corrway, a Chartered Certified Accountant, was nominated by DBAY Advisors
Limited ('DBAY') and is being appointed under the terms of the shareholder
agreement originally announced on 12 November 2020 which gives DBAY the right
to appoint up to three Non-Executive Directors to the Board.

Mr Corrway does not hold a position of employment, or shareholding, in DBAY.

The following additional information is provided in accordance with paragraph
(g) of Schedule Two to the AIM Rules for Companies:

Full Name: Brian Corrway

Age: 50

 Current directorships / partnerships

 Financial Control Solutions Limited

 Directorships / partnerships within the last five years

 ESLL Group Limited
 AHL Anglia Limited
 AIL Anglia Limited
 Bluewhitestar Developments Limited
 Eddie Stobart Distribution Limited
 Eddie Stobart Group Limited
 Eddie Stobart Logistics Limited
 IForce Auctions Limited
 IForce Limited
 IForce Trading Limited
 Stobart Truckstops Limited
 The Logistic People Limited
 The Logistics People Limited
 Puro Ventures Limited
 Eezehaul Limited
 The Pallet Network Limited
 Acumen Distribution Services Holdings Limited
 Greenwhitestar Acquisitions Limited
 Eddie Stobart Limited
 IForce Group Limited
 The Pallet Network Group Limited
 Logistics Security Limited

 

Brian Corrway does not hold any Ordinary Shares in the Company.

There is no further information to be disclosed in relation to Mr Corrway's
appointment pursuant to AIM Rule 17, paragraph (g) of Schedule Two of the AIM
Rules for Companies.

 

- Ends -

 

 

For further enquiries:

 Anexo Group plc                                    +44 (0) 151 227 3008

                                                    www.anexo-group.com (http://www.anexo-group.com)
 Alan Sellers, Executive Chairman

 Mark Bringloe, Chief Financial Officer

 Nick Dashwood Brown, Head of Investor Relations

 Arden Partners plc

 (Nominated Adviser and Broker)
 John Llewellyn-Lloyd / Louisa Waddell (Corporate)  +44 (0) 20 7614 5900

 Tim Dainton (Equity Sales)                         www.arden-partners.co.uk (http://www.arden-partners.co.uk)

 Panmure Gordon                                                              +44 (0) 20 7886 2500

 (Joint Broker)                                     www.panmure.com

 Ed Walsh/Dominic Morley

Notes to Editors:

 

Anexo is a specialist integrated credit hire and legal services provider. The
Group has created a unique business model by combining a direct capture Credit
Hire business with a wholly owned Legal Services firm. The integrated business
targets the impecunious not at fault motorist, referring to those who do not
have the financial means or access to a replacement vehicle.

 

Through its dedicated Credit Hire sales team and network of over 1,100 active
introducers around the UK, Anexo provides customers with an end-to-end service
including the provision of Credit Hire vehicles, assistance with repair and
recovery, and claims management services. The Group's Legal Services division,
Bond Turner, provides the legal support to maximise the recovery of costs
through settlement or court action as well as the processing of any associated
personal injury claim.

 

The Group was admitted to trading on AIM in June 2018 with the ticker ANX.

 

For additional information please visit: www.anexo-group.com
(http://www.anexo-group.com) . To subscribe to our investor alert service and
receive all press releases, financial results and other key shareholder
messages as soon as they become available, please visit:
https://www.anexo-group.com/content/investors/alert.asp
(https://www.anexo-group.com/content/investors/alert.asp) .

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