Completion of sale stake Capital Private Finance

RNS Number : 7601F

Mortgage Advice Bureau(Holdings)PLC

01 August 2016

 

1 August 2016

Mortgage Advice Bureau (Holdings) plc 

Completion of the sale of 49% stake in Capital Private Finance Limited ("CPF")

Mortgage Advice Bureau (Holdings) plc ("MAB" or the "Group"), one of the UK's leading consumer intermediary brands and specialist Appointed Representative Networks, is pleased to announce that it has completed the sale of its stake in CPF for consideration in cash of £2.7 million.

As previously announced the post-tax profit on disposal will be distributed by way of a special dividend to shareholders of 4.25 pence per ordinary share.  This dividend will be paid on 26 August 2016 to ordinary shareholders on the register on 12 August 2016.  The ex-dividend date is 11 August 2016.

CPF will shortly cease to be an Appointed Representative of MAB, reducing the number of MAB Advisers by 14.  MAB's exposure to the London market will reduce to c.6% in terms of revenue as a result.

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]

 

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