Trading Update

RNS Announcement

Date: 4 April 2019

Trading Update

finnCap Group PLC

finnCap Group plc (AIM: FCAP) (the "Company" or "the Group") provides the following trading update for the 11 month period ending 31^st March 2019.

The Directors expect to report a trading performance for the 11 month period to 31 March 2019 slightly ahead of management's expectations when the Company's AIM Admission Document was published on 29 November 2018. The performance of Cavendish in the post-acquisition period has been good with trading consistent with its financial year ended 31 March 2018 and finnCap Limited ("finnCap") has had a strong final quarter.  Overall the Group has performed well despite the recent uncertain political and economic climate.

There are already good indications of the benefits of combining finnCap and Cavendish. In March 2019, the Group successfully completed its first buy side advisory deal on behalf of a private equity house. The Group has also recently provided debt advisory services to an existing listed client of finnCap to support an acquisition and several sell side opportunities have been introduced to Cavendish through finnCap's existing network.

The Board remains confident in the execution of its strategy to deliver a broad range of financial services to ambitious companies, both public and private. Whilst the political climate remains uncertain the Group maintains a healthy pipeline of transactions across its services and is therefore confident about the current outlook.  

The Company's audited financial results for the 11 months ended 31 March 2019 are expected to be announced at the start of July 2019, and a further trading update will be made at that time.

Sam Smith, CEO of the Group, said: "I am delighted by the outturn for the year against a difficult market backdrop. As a business we are focused on providing services to a broad range of ambitious companies and it is very pleasing to produce this trading performance from advising on over 70 transactions with no one client representing more than 5 per cent. of revenue.

We look forward to the current financial year and to providing the best client service whilst capitalising on the many opportunities that the combination of finnCap and Cavendish provides."

Contacts

finnCap Group plc                                                                      Tel: +44 (0) 20 7220 0500

Sam Smith, Chief Executive Officer                                         investor.relations@finncap.com

Tom Hayward, Chief Financial Officer

Grant Thornton (Nominated Adviser)                                    Tel: +44 (0) 20 7383 5100

Philip Secrett/Samantha Harrison/Seamus Fricker

finnCap Limited (Broker)                                                            Tel: +44 (0) 20 7220 0500

Rhys Williams

Sapience Communications (PR adviser to the Group)         Tel: +44 (0) 20 3195 3240

Richard Morgan Evans

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

About finnCap Group

finnCap Group plc is a leading adviser and broker to ambitious growth companies, both public and private.  Through finnCap Limited it provides access to capital, M&A, plc advisory, debt advisory and research coverage to corporates as well as trade execution services and research to institutional investors. Through Cavendish it provides a specialist sell side advisory service to mid-market companies.  Since it was established in 2007, finnCap has helped raise more than £2.6bn of new capital to support corporate clients and currently acts for 125 listed corporates. Cavendish has advised on over 600 sales mandates since it was founded over 30 years ago.

finnCap Group plc accelerates companies' growth by working in partnership with driven business leaders, realising their growth aspirations at every stage of their journey. finnCap Group plc's expertise spans multiple sectors, public and private markets.