Equiniti Group (EQN)

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FTSE 250

204.20p
   
  • Change Today:
      5.40p
  • 52 Week High: 236.20
  • 52 Week Low: 186.20
  • Currency: UK Pounds
  • Shares Issued: 364.54m
  • Volume: 301,257
  • Market Cap: £744.38m
  • Beta: 1.03

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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Equiniti Group Market Data

Currency UK Pounds
Share Price 204.20p
Change Today 5.40p
% Change 2.72 %
52 Week High 236.20
52 Week Low 186.20
Volume 301,257
Shares Issued 364.54m
Market Cap £744.38m
Beta 1.03

Equiniti Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.6% below the market average57.6% below the market average57.6% below the market average57.6% below the market average57.6% below the market average
28.33% below the sector average28.33% below the sector average28.33% below the sector average28.33% below the sector average28.33% below the sector average
Price Trend
50.61% below the market average50.61% below the market average50.61% below the market average50.61% below the market average50.61% below the market average
49.21% below the sector average49.21% below the sector average49.21% below the sector average49.21% below the sector average49.21% below the sector average
Income
10.18% above the market average10.18% above the market average10.18% above the market average10.18% above the market average10.18% above the market average
8.24% above the sector average8.24% above the sector average8.24% above the sector average8.24% above the sector average8.24% above the sector average
Growth
9.25% below the market average9.25% below the market average9.25% below the market average9.25% below the market average9.25% below the market average
12.82% below the sector average12.82% below the sector average12.82% below the sector average12.82% below the sector average12.82% below the sector average

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 7
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 10-Dec-2019

Time Volume / Share Price
14:19 275 @ 204.20p
14:19 809 @ 204.20p
14:19 1,119 @ 204.20p
14:19 219 @ 204.20p
14:19 183 @ 204.20p

Equiniti Group Key Personnel

CEO Guy Wakeley
CFO John Stier
Chair Philip Yea

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