AGM Statement

RNS Number : 3178Z

Mortgage Advice Bureau(Holdings)PLC

26 May 2016

 

26 May 2016

Mortgage Advice Bureau (Holdings) plc

AGM Statement

Mortgage Advice Bureau (Holdings) plc ("MAB" or "the Group"), one of the UK's leading consumer intermediary brands and specialist Appointed Representative Networks, will hold its Annual General Meeting at 2pm today during which the Non-executive Chairman, Katherine Innes Ker, will make the following statement:

"Adviser numbers have continued to grow since our final results statement on 22 March 2016 and had increased to 888 advisers as at 20 May 2016. 

"As previously announced, we expect to complete the sale of MAB's 49% stake in Capital Private Finance Limited ("CPF") early in the second half of 2016, and expect further growth in adviser numbers to offset the departure of CPF's 14 advisers from the Group at that point.  MAB intends to declare a special dividend equivalent to the post-tax sale proceeds shortly after completion and this will equate to c. 4.25 pence per ordinary share.

"We are committed to providing expert advice to our customers and remain focussed on increasing our market share through our specialist approach, enhancing our proposition through technology and leveraging our brand.  Current trading is in line with the Board's expectations and we look forward to delivering further growth in the remainder of this financial year."

Enquiries:

Mortgage Advice Bureau (Holdings) plc                            [phone]

Peter Brodnicki, Chief Executive Officer

David Preece, Chief Operating Officer

Lucy Tilley, Finance Director

Zeus Capital                                                                              [phone] Martin Green Nicholas How Pippa Underwood Canaccord Genuity                                                                  [phone] Roger Lambert Kit Stephenson Richard Andrews Media Enquiries:  [e-mail]

 

END

 

 

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