Equiniti Group (EQN)

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FTSE Small Cap

178.80p
   
  • Change Today:
      0.40p
  • 52 Week High: 182.80
  • 52 Week Low: 99.20
  • Currency: UK Pounds
  • Shares Issued: 367.76m
  • Volume: 578,983
  • Market Cap: £657.55m

Equiniti expands US operation with CST acquisition

By Josh White

Date: Monday 04 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Services and payments specialist Equiniti Group has completed the acquisition of Corporate Stock Transfer (CST), it announced on Monday, which will become part of its US division, EQ.
The FTSE 250 company described CST as a US transfer agent based in Denver, Colorado.

It was founded in 1985, and acts primarily for domestic and international public, micro-cap companies.

It explained that it offers a "wide range of services", including record keeping, escrow services, annual meeting services and paying agent services, and maintains records for more than 700 clients.

Through the transaction, CST's existing clients would benefit from access to the "broad range" of products EQ offers, such as employee stock plans and equity compensation services.

The acquisition presented substantial benefits for EQ, the company added, including "significant" projected cost synergies.

It said the micro and small-cap client space was a new growth area for the business, and the opportunity to serve the fast-growing Chinese market also created "significant" opportunities.

"The acquisition of CST is an exciting step in our journey to consolidate our investment into equity based services in North America and do more in the markets we serve," said Equiniti chief executive officer Guy Wakeley.

Todd May, CEO of Equiniti's US division EQ, added that CST's focus on serving clients so they could achieve their goals aligned with EQ's approach to service.

"Our new Shareowner Online and EQ Insight portals will power the growth of this important segment of the industry.

"The addition of Corporate Stock Transfer brings opportunities to leverage our technology and operating model as well as adding a new strategic site in Denver to our growing US footprint."

Finally, Carylyn Bell - president and founder of Corporate Stock Transfer - said her company was "delighted" to be joining EQ, which she said shared its value of service excellence.

"Together we will be able to offer our clients an even broader range of services powered by industry-leading technology.

"The combination of our businesses presents a compelling proposition for our existing clients and exciting growth prospects for the team.

"I look forward to working with our new colleagues to capitalise on this opportunity."

As at 0855 GMT, shares in Equiniti were up 0.37% at 219.6p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Equiniti Group Market Data

Currency UK Pounds
Share Price 178.80p
Change Today 0.40p
% Change 0.22 %
52 Week High 182.80
52 Week Low 99.20
Volume 578,983
Shares Issued 367.76m
Market Cap £657.55m

Equiniti Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
9.24% below the market average9.24% below the market average9.24% below the market average9.24% below the market average9.24% below the market average
11.76% above the sector average11.76% above the sector average11.76% above the sector average11.76% above the sector average11.76% above the sector average
Price Trend
18.91% above the market average18.91% above the market average18.91% above the market average18.91% above the market average18.91% above the market average
4.42% above the sector average4.42% above the sector average4.42% above the sector average4.42% above the sector average4.42% above the sector average
Income
58.53% below the market average58.53% below the market average58.53% below the market average58.53% below the market average58.53% below the market average
36.23% below the sector average36.23% below the sector average36.23% below the sector average36.23% below the sector average36.23% below the sector average
Growth
23.8% below the market average23.8% below the market average23.8% below the market average23.8% below the market average23.8% below the market average
15.09% below the sector average15.09% below the sector average15.09% below the sector average15.09% below the sector average15.09% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Equiniti Group Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-19 11-Apr-19
Paid 25-Oct-19 16-May-19
Amount 1.95p 3.49p

Trades for 27-Jul-2021

Time Volume / Share Price
12:42 8 @ 178.62p
12:27 400 @ 178.80p
11:50 3,500 @ 178.40p
11:50 1,500 @ 178.40p
11:47 4 @ 179.00p

Equiniti Group Key Personnel

CFO John Stier
CEO Paul Anthony Lynam

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