You are here

Prices & Quotes - UK Markets - JTC (JTC)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 626.00p
Change Today:
-9.00p
Market Cap:
834.61m
Sector:
Financial Services

JTC acquires Luxembourg's Exequtive Partners for up to EUR 34m

By Josh White

Date: Tuesday 26 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Fund management company JTC announced the acquisition of Luxembourg-based specialist provider of corporate and related fiduciary services Exequtive Partners (EP) on Tuesday.
The London-listed firm said EP was being acquired from Primitivo, De Gorzen, Tika Holdings, Pimpiri and Stichting Administratiekantoor Employee Benefit Jomaroma, which primarily represented the principals of EP, and would join JTC with immediate effect.

EP's 28 employees would join the existing JTC institutional client services team in Luxembourg.

As well as expanding JTC's market presence in Luxembourg, the company said the acquisition would build on its corporate services capabilities, complement its funds offering, and create greater opportunities for future growth in the jurisdiction.

The consideration for the acquisition would comprises an initial consideration of €25m, satisfied by €18.34m in cash and the issue of 1,925,650 new ordinary shares in JTC, of which 173,482 shares - or €0.6m - were being contributed to the JTC employee benefit trust.

It would also comprise an earn-out which, if payable, would be paid 70% in cash and 30% in shares during 2020, based on EP's performance on a sliding scale against revenue and EBITDA targets for the year ended 31 December 2019.

The total consideration payable was subject to an absolute cap of €34m, subject to customary closing adjustments.

In the year ended 31 December 2018, EP made a profit of €61,000, an adjusted EBITDA of €2.5m, and had gross assets of €1.9m.

JTC said it expected the transaction to be "immediately" earnings enhancing, adding that the acquisition formed part of its ongoing growth strategy as outlined at its initial public offering in March last year, and underlined in the trading update issued on 24 January, with the company continuing to see further opportunities for organic and inorganic growth.

"Exequtive Partners is a specialist business in a key strategic location that has demonstrated exceptional performance since its inception," said JTC chief executive officer Nigel Le Quesne.

"As such, this acquisition is reflective of our focus on high quality growth and on strengthening our proposition for institutional clients."

Le Quesne said the management team at Exequtive Partners had built a successful business based on "very similar principles" to JTC, making it an "excellent cultural fit" for the firm while also enabling EP to become part of JTC's established network focussed on client service excellence.

"We extend a warm welcome to our new colleagues, clients and partners."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

JTC Market Data

Currency UK Pounds
Price 626.00p
Change Today -9.00p
52 Week High 673.00p
52 Week Low 444.00p
Volume 700,437
Shares Issued 133.32m
Market Cap 834.61m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Income
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Growth
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. empty sector
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. empty sector
  4. empty sector
  5. empty sector
P/E
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
PEG
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
EPS Growth
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector

What The Brokers Say

Strong Buy 6
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 8
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

JTC Dividends

  Latest Previous
  Final Interim
Ex-Div 10-Jun-21 24-Sep-20
Paid 02-Jul-21 23-Oct-20
Amount 4.35p 2.40p

Trades for 18-Jun-2021

Time Volume / Share Price
16:51 116,157 @ 625.87p
16:57 1,770 @ 626.00p
16:46 11,277 @ 626.00p
16:46 1,770 @ 626.00p
16:38 50,000 @ 628.34p

JTC Key Personnel

CEO Nigel Le Quesne
CFO Martin Fotheringham