IFG Group plc: Q1 2019 TRADING UPDATE (808535)

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 IFG Group plc (IFP) 
IFG Group plc: Q1 2019 TRADING UPDATE 
 
09-May-2019 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                    IFG Group plc ("IFG" or the "Group") 
 
                           Q1 2019 TRADING UPDATE 
 
09 May 2019 
 
  IFG will hold its Annual General Meeting at 12 noon today. At the meeting, 
                     Kathryn Purves, CEO, will make the following statement: 
 
  "I am pleased to report that since publication of the Scheme Document on 9 
   April 2019, in relation to the proposed acquisition of IFG by Epiris, the 
      Group has continued to trade in line with expectations and there is no 
                                                          change to outlook. 
 
   James Hay now serves almost 59,000 customers (up 0.21% from 31 March 2018 
   and 0.14% from 31 December 2018). Assets under Administration at 31 March 
      2019 were GBP26.1bn - up 2.8% from 31 March 2018 and 3.2% higher than 31 
 December 2018 (GBP25.3bn) with positive market movements of GBP0.6bn during the 
     quarter offsetting the adverse market movements experienced in Q4 2018. 
 
       Saunderson House achieved 63 new client wins across both advisory and 
  discretionary management services in the 3 months to 31 March 2019 and now 
    serves 2,385 clients, up 7.7% from March 2018 and up 1.8% on 31 December 
    2018. Assets under Advice at 31 March 2019 were GBP5.1bn - in line with 31 
                                 March 2018 and up 4.8% on 31 December 2018. 
 
  The Group remains focused on resolving its legacy issues, however, at this 
 stage there is no further update in relation to the Elysian Fuels matter in 
                                                                 James Hay." 
 
                                                                  Enquiries: 
 
                     Kathryn Purves Group Chief Executive [phone] 
 
               Gavin Howard Group Chief Financial Officer [phone] 
 
                                                    Joint Corporate Brokers: 
 
                 Charlotte Craigie Goodbody Stockbrokers UC [phone] 
 
            Nicholas Harland Macquarie Capital (Europe) Ltd [phone] 
 
                                                       Notes to the editors: 
 
           IFG Group plc provides a range of financial solutions through its 
 subsidiaries, James Hay Partnership and Saunderson House Limited. James Hay 
 is a leading retirement wealth planning platform and Saunderson House is an 
                                award winning independent financial adviser. 
 
                                                              Responsibility 
 
    The IFG Directors accept responsibility for the information contained in 
       this announcement. To the best of the knowledge and belief of the IFG 
  Directors (who have taken all reasonable care to ensure such is the case), 
        the information contained in this announcement for which they accept 
   responsibility is in accordance with the facts and does not omit anything 
                            likely to affect the import of such information. 
 
  This announcement is not intended to, and does not, constitute or form any 
        part of any offer or invitation, or the solicitation of an offer, to 
   purchase or otherwise acquire or subscribe for any securities pursuant to 
      the Acquisition or otherwise, nor shall there be any sale, issuance or 
  transfer of securities, in any jurisdiction in contravention of applicable 
     Law. This announcement does not constitute a prospectus or a prospectus 
                                                    equivalent announcement. 
 
Terms defined in the Scheme Document have the same meaning when used in this 
Announcement. 
 
No Profit Forecasts, Estimates, or Asset Valuation 
 
        No statement in this announcement is intended to constitute a profit 
           forecast or estimate for any period, nor should any statements be 
 interpreted to mean that earnings or earnings per share will necessarily be 
  greater or lesser than those for the relevant preceding financial periods. 
           No statement in this announcement constitutes an asset valuation. 
 
Cautionary Statement Regarding Forward-Looking Statements 
 
 This announcement contains forward-looking statements. All statements other 
  than historical facts are forward-looking statements, including statements 
   regarding anticipated future results, or other non-historical facts. They 
    may be identified by the words "will," "may," "could," "would," "to be," 
 "might," "believe," "anticipate," "expect," "plan," "estimate," "forecast," 
        "future," "positioned," "potential," "intend," "continue," "remain," 
     "scheduled," "outlook," "set to," "subject to," "upcoming," "target" or 
           similar expressions. These statements are based on current views, 
        expectations, estimates and assumptions and are subject to risks and 
     uncertainties that could cause actual results to differ materially from 
  those expressed in the forward-looking statements. If one or more of these 
   risks or uncertainties materialise, or if underlying views, expectations, 
   estimates or assumptions prove to be incorrect, actual results may differ 
          materially from those contemplated by a forward-looking statement. 
 
In addition, actual future results and other future circumstances of IFG are 
  subject to other risks and uncertainties that relate more broadly to IFG's 
business, including its future results of operations and financial position; 
 ability to continue as a going concern; its ability to execute its business 
  strategy, including obtaining successful pivotal study results, developing 
         its pipeline of product candidates, completing facilities upgrades, 
manufacturing its own product candidates, meeting conditions for the receipt 
  of government grants, making timely regulatory submissions, and qualifying 
   for conditional licensure or obtaining product approvals; and those risks 
             and uncertainties discussed in IFG's most recent Annual Report. 
 
   There may be additional risks that IFG do not presently know or currently 
  believe are immaterial that could also cause actual results to differ from 
          those contained in the forward-looking statements. Forward-looking 
  statements speak only as of the date on which they are made. IFG expressly 
 disclaims any obligation to update or revise any forward-looking statement, 
                                                  except as required by Law. 
 
Rule 8 Dealing Disclosure Requirements 
 
Under the provisions of Rule 8.3 of the Takeover Rules, if any person is, or 
  becomes, "interested" (directly or indirectly) in, 1% or more of any class 
of "relevant securities" of IFG, all "dealings" in any "relevant securities" 
      of IFG (including by means of an option in respect of, or a derivative 
referenced to, any such "relevant securities") must be publicly disclosed by 
   not later than 3.30 p.m. (Irish time) on the "business day" following the 
  date of the relevant transaction. This requirement will continue until the 
    Offer Period ends. If two or more persons co-operate on the basis of any 
   agreement, either express or tacit, either oral or written, to acquire an 
     "interest" in "relevant securities" of IFG, they will be deemed to be a 
            single person for the purpose of Rule 8.3 of the Takeover Rules. 
 
   Under the provisions of Rule 8.1 of the Takeover Rules, all "dealings" in 
  "relevant securities" of IFG by Epiris or Bidco, or by any party acting in 
   concert with any of them, must also be disclosed by no later than 12 p.m. 
       (Irish time) on the "business day" following the date of the relevant 
                                                                transaction. 
 
      A disclosure table, giving details of the companies in whose "relevant 
       securities" "dealings" should be disclosed, can be found on the Irish 
                      Takeover Panel's website at www.irishtakeoverpanel.ie. 
 
"Interests in securities" arise, in summary, when a person has long economic 
       exposure, whether conditional or absolute, to changes in the price of 
 securities. In particular, a person will be treated as having an "interest" 
    by virtue of the ownership or control of securities, or by virtue of any 
              option in respect of, or derivative referenced to, securities. 
 
 Terms in quotation marks above are defined in the Takeover Rules, which can 
                         also be found on the Irish Takeover Panel's website 
                                                  www.irishtakeoverpanel.ie. 
 
 If you are in any doubt as to whether or not you are required to disclose a 
"dealing" under Rule 8, please consult the Irish Takeover Panel's website at 
  www.irishtakeoverpanel.ie or contact the Irish Takeover Panel on telephone 
                       number [phone] or fax number [phone]. 
 
Rounding 
 
        Certain figures included in this announcement have been subjected to 
  rounding adjustments. Any figures shown for the same category presented in 
   different tables may vary slightly and figures shown as totals in certain 
     tables may not be an arithmetic aggregation of the figures that precede 
                                                                       them. 
 
ISIN:           IE0002325243 
Category Code:  TST 
TIDM:           IFP 
LEI Code:       213800DDLICUJ14JTY47 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   8546 
EQS News ID:    808535 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

May 09, 2019 17:15 ET (21:15 GMT)