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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Amicorp Fs (uk) Plc | LSE:AMIF | London | Ordinary Share | GB00BNTWWT07 | ORD USD0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 1.00 | 2.00 | 1.50 | 1.50 | 1.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Offices-holdng Companies,nec | 11.91M | 2.3M | 0.0202 | 74.26 | 170.25M |
TIDMAMIF
RNS Number : 1860U
Amicorp FS (UK) PLC
22 November 2023
LEI: 21380028AUYWGMYXQA57 22 November 2023
Amicorp FS (UK) Plc
('AMIF', the 'Company' or the 'Group')
Luxembourg Licence
Amicorp FS (UK) Plc, the international specialist fund services group, is pleased to announce the successful completion of the demerger of Amicorp Luxembourg S.A., which will allow for an expansion of the Company's operations in this strategically important fund services market.
The de-merger involved the separation of the fund administration element of AMIF's existing jurisdictional licence, held within the Amicorp Group, thereby creating the conditions to apply for an additional depositary lite licence that will complement the Group's administration business with enhanced services and revenue opportunities. The new licence is expected to be granted in 2024.
A depositary lite licence allows for the provision of a number of services including cash flow monitoring, safekeeping of assets and ongoing oversight, and will allow the Group to further strengthen its presence, collaborating with complementary service providers such as legal firms, investment advisors and asset managers, to expand the Group's reach to new prospects.
Luxembourg is the largest investment funds centre in Europe and the second largest in the world after the United States. It is a worldwide leader in cross-border fund distribution and has continued to develop its reputation as a centre of excellence for a large variety of investment structures and funds.
Kin Lai, Chief Executive Officer of AMIF, said : "We stated at the time of our IPO that an important aspect of our growth strategy was to expand our service offering amongst current clients and geographies. Luxembourg is an important financial and fund services marketplace that is of critical importance to the business. Today's news will allow the Group to drive a significant increase in revenue generating opportunities.
"The Company is expanding across all its key markets as part of a plan to accelerate its growth ambitions, both organically and through acquisitions. We will continue to provide a comprehensive and tailored range of services - including fund set up and structuring, fund administration, investor services, assurance and governance services all of which are underpinned by market-leading technology solutions that support our clients across the value chain, from a single point of contact."
- Ends -
For further information please contact:
Amicorp FS (UK) Plc Via Buchanan Communications Toine Knipping, Non-Executive Chairman Chi Kin Lai, Chief Executive Officer Tat Cheung (Stephen) Wong, Chief Financial Officer Zeus (Broker) Tel: +44 (0) 20 3829 5000 Martin Green / Louisa Waddell (Investment www.zeuscapital.co.uk Banking) Benjamin Robertson (Corporate Broking) Bowsprit Partners Limited (Financial Tel: +44 (0) 20 3883 4430 Adviser) www.bowspritpartners.com John Treacy Luis Brime Media enquiries: Tel: + 44 (0) 20 7466 5000 Buchanan (Financial Communications) AmicorpFS@buchanan.uk.com Simon Compton Verity Parker
Notes to Editors
AMIF is an international specialist fund services group that works with a broad mix of clients including institutional investors, fund managers (private equity, venture capital and hedge funds) as well as family offices to provide a suite of specialist services across global markets. AMIF operates at significant scale, providing local and global expertise to over 460 active funds.
AMIF provides a comprehensive and tailored range of services which are all underpinned by market-recognised technology solutions that support clients across the value chain, from a single point of contact.
These include:
-- Fund Administration & Investor Services : Fund accounting, fund administration, in-house NAV calculation, investor services including Register & Transfer Agency services, booking of subscriptions & redemptions, audit liaison/support, real time oversight over investment performance.
-- Assurance and Governance Services : FATCA and CRS reporting services, Fiduciary, Anti-Money Laundering (AML) officer services in compliance with international rules and regulations including administrative support to the Board and Committees of the Board.
-- BPO Services: Simplifying accounting and administration services through automated accounting processes and providing management insight into business operations through regular and consistent management reporting.
For further information please visit www.amicorp-funds.com/chairmans-welcome/
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(END) Dow Jones Newswires
November 22, 2023 02:00 ET (07:00 GMT)
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