Acquisition of SANNE Group private client business

1 July 2020

JTC PLC

(the "Company" and together with its subsidiaries "JTC" or the "Group")

Acquisition of SANNE Group plc private client business ("SANNE private client business")

JTC, the award-winning provider of fund, corporate and private client services announces today, further to its announcement on 16 March 2020, the completion of its acquisition of the assets, contracts and employees of SANNE Group plc's private client business based in Jersey.

The acquisition expands JTC's Private Client Services ("PCS") presence in Jersey, one of its strongest performing PCS jurisdictions. Clients representing annualised ongoing revenues of £4.1m have transferred to JTC resulting in an initial cash payment of £9m, any subsequent payments will be subject to additional clients transferring to JTC. The payment has been funded from the Group's operating cash flows and existing facilities.

The transferring employees will be immediately integrated onto JTC's global administration platform and move into JTC's office headquarters in Jersey as COVID-19 distancing restrictions allow. The Company expects the transaction to be immediately earnings enhancing and consistent with JTC's strategy to use its existing scalable platform to enhance operating margins.

The acquisition forms part of JTC's ongoing growth strategy, with the Company continuing to see opportunities for organic and inorganic growth across both its Institutional Client Services ("ICS") and Private Client Services ("PCS") Divisions.

Nigel Le Quesne, CEO of JTC, said:

"We are delighted to welcome our new colleagues and clients to JTC. We have built a strong reputation for client service excellence, innovation and consistent growth.  Our Jersey platform continues to deliver strong commercial performance, and we look forward to using our extensive acquisition experience to ensure a positive and seamless transition.

In these uncertain times we are focused on looking after our fantastic people and valued clients. We have a great business which has consistently demonstrated excellent resilience and sustained growth throughout multiple economic cycles."

-ENDS-

Enquiries:

JTC PLC                                                                       +44 (0) 1534 700 000

Nigel Le Quesne, Chief Executive Officer             

Martin Fotheringham, Chief Financial Officer

David Vieira, Chief Communications Officer

Camarco                                                                      +44 (0)20 3757 4985

Geoffrey Pelham-Lane                                                   

Georgia Edmonds

Monique Perks

About JTC

JTC is an award-winning provider of fund, corporate and private client services. Founded in 1987, the company employs c.750 people across its global office network and is trusted to administer assets of c.US$110 billion.

JTC is committed to its shared ownership culture and philosophy, with management and staff holding over 20% of the equity in the firm, clearly aligning the interests of clients, employees and other stakeholders.

www.jtcgroup.com

Important Notices

The person arranging release of this announcement on behalf of JTC is David Vieira (Chief Communications Officer).

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any other jurisdiction should inform themselves about, and observe, any applicable requirements.  This announcement has been prepared for the purposes of complying with the Listing Rules and MAR and the information disclosed may not be the same as that which would have been prepared in accordance with the laws and regulation of any jurisdiction outside of England.

This announcement contains forward looking statements. No forward-looking statement is a guarantee of future performance and actual results or performance or other financial condition could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact they do not relate only to historical or current facts. They may contain words such as "may", "will", "seek", "continue", "aim", "anticipate", "target", "projected", "expect", "estimate", "intend", "plan", "goal", "believe", "achieve" or other words with similar meaning. By their nature forward looking statements involve risk and uncertainty because they relate to future events and circumstances. A number of these influences and factors are outside of the Company's control. As a result, actual results may differ materially from the plans, goals and expectations contained in this announcement. Any forward-looking statements made in this announcement speak only as of the date they are made. Except as required by the FCA or any applicable law or regulation, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement.