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 +44 (0)1332 525007 |
Peter Brodnicki, Chief Executive Officer |
David Preece, Chief Operating Officer |
Lucy Tilley, Finance Director |
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Zeus Capital +44 (0)20 3829 5000 Martin Green Nicholas How Pippa Underwood Canaccord Genuity +44 (0)20 7523 8350 Roger Lambert Kit Stephenson Richard Andrews Media Enquiries: [email protected] |
