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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 650.00p
Change Today:
-9.00p
Market Cap:
865.46m
Sector:
Financial Services

JTC buys INDOS for up to 12.5m

By Michele Maatouk

Date: Monday 15 Feb 2021

LONDON (ShareCast) - (Sharecast News) - JTC said on Monday that it has bought INDOS, a specialist in the provision of depositary, ESG and AML oversight services for alternative investment funds, for up to 12.5m.
The FTSE 250 provider of fund, corporate and private client services, said the initial consideration is 11m, which will be settled 10m in cash and 1m in JTC equity. There is a deferred consideration of 1.5m dependent on the achievement of performance targets.

As of December 2020, INDOS' client assets under depositary oversight were about $35bn. JTC said it has "a high quality, diverse client book of leading UK and international alternative asset fund managers".

The business is being bought from its management team and a group of private shareholders. All employees, including INDOS founder and CEO Bill Prew and his senior management team, will join JTC, becoming part of the Institutional Client Services division.

JTC said the deal forms part of its ongoing growth strategy, which enhances the organic growth momentum of the core business with "disciplined inorganic growth governed by clear acquisition criteria and supported by a strong track record for thorough and successful integration to JTC's global platform".

The company's chief executive officer, Nigel Le Quesne, said: "INDOS is a business of real quality which operates in a strategically important part of the fund services market. Having collaborated with Bill and the team several times, it is clear that their deep expertise, commitment to service excellence and proven ability to innovate and grow makes INDOS a great addition to the JTC platform.

"The transaction also adds further scale in Ireland, a priority market for the group, and the UK, where our London team has more than doubled in size over the last 18 months due to client demand."

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 650.00p
Change Today -9.00p
52 Week High 673.00p
52 Week Low 411.00p
Volume 115,734
Shares Issued 133.15m
Market Cap 865.46m

Performance Indicators

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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 13-May-2021

Time Volume / Share Price
16:41 80 @ 654.85p
16:41 80 @ 654.85p
16:36 48 @ 650.00p
16:36 19 @ 650.00p
16:36 20,305 @ 649.72p

JTC Key Personnel

CEO Nigel Le Quesne
CFO Martin Fotheringham