REG - Fintel PLC - AGM and Trading Update

FintelAnnouncement

21/05/2024 07:00

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RNS Number : 1731P  Fintel PLC  21 May 2024

21 May 2024

Fintel plc

(the "Company", the "Group" or "Fintel")

 

Annual General Meeting

Trading Update

 

Fintel plc (AIM: FNTL), as previously announced, is holding its Annual General
Meeting ("AGM") today at 10.00 a.m. BST at Fintel House, St Andrew's Road,
Huddersfield, HD1 6NA.

Trading update

The Group continues to execute against its strategy and is trading in line
with the Board's expectations.

The Group has made further strategic progress, completing four complementary
acquisitions and investments since the start of the year, including the
acquisitions of Synaptic Software, Owen James and ifaDASH, alongside
investment in Mortgage Brain.

With our unaudited gross cash position of £10.6m as at 30 April 2024, net
debt of £0.4m and £69m headroom within our £80m revolving credit facility,
we remain well positioned to capitalise on organic growth opportunities and
our strong M&A pipeline.

The Board remains confident that Fintel's strategy will deliver sustainable
long-term growth, underpinned by positive market dynamics and structural
growth drivers including evolving regulation, FCA Consumer Duty and demand for
technology and data.

We look forward to updating shareholders again in our half year trading update
in July 2024 and interim results in September 2024.

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)      +44 (0) 20 3829 5000

 Martin Green

 Dan Bate

 Investec Bank (Joint Broker)                   +44 (0) 20 7597 5970

 Bruce Garrow

 David Anderson

 MHP Group (Financial PR)                       +44 (0) 7736 464749

 Reg Hoare                                      Fintel@mhpgroup.com (mailto: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 (http://www.wearefintel.com)

 

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 (http://www.wearefintel.com)

 

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