FairFX Group Plc (LON:FFX)

FairFX Group Plc (LON:FFX)


Share Price
105.99 p
Change
2.985 (2.90 %)
Market Cap
£164.67 m
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FairFX Group Plc

FairFX is a leading international payment services provider to the retail and corporate segments of the UK market, which combined is estimated to be worth £60 billion a year. The Company has a cloud-based peer-to-peer payments platform that enables personal and business customers to make low-cost multicurrency payments in a broad range of currencies and across a range of FX products, all...

EPIC: FFX
Market: AIM:FFX
52-week High/Low: 151.80p / 83.00p
Sector: Financial
Market Cap: £164.67 m
Website: www.fairfxplc.com
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Big Picture – A Deep Dive Examination of FairFX Group Plc


FairFX Group Plc Snapshot

FairFX is a leading challenger brand in banking and payments that disintermediates the incumbent banks with a user-centric offering and a low-cost operating model. The business enables personal and business customers to make easy, low-cost multi-currency payments in a broad range of currencies and across a range of products.

As a challenger brand in a rapidly evolving sector, FairFX recognises the importance of delivering a service which fits with the changing needs of consumers and businesses in order to grow its customer base, broaden its customer offering and further establish itself in the digital banking sector.

The strategic focus for the Group lies in two key areas. Firstly, to continue to achieve business efficiencies through a combination of increasing scale, selective internalisation of the supply chain and improved customer experience of our products. An example of this is our recent acquisition of City Forex which significantly increases the Group’s scale.

Secondly, to continue to roll out innovative new products with an emphasis on banking services for businesses, thereby building on the technology platform of CardOneBanking, which we acquired in August 2017. This focus has already led to the launch of Fair Everywhere, our bank account for businesses with global ambitions.

Fairfx Currency Card

Best for Different Currencies

  • Easy to order, quick to arrive
  • Accepted wherever they take MasterCard cards
  • A safe, secure way to carry your travel money
  • Secured by chip and PIN
  • Flat 1.4% currency charge each time
  • Low ATM fees: £1 globally (some may add their own fee on top)
  • Check balance / load funds anywhere, with free app or online
  • Consistently great exchange rates

 

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Fairfx International Payments
 
 
 
 
 
 
 
 
 
 
 
 
 
 

John Pearson

Non-Executive Chairman
Skills brought to the Board: Digital, Platform, Advertising, Marketing, M&A

John Pearson has considerable experience in the digital, media and broadcast industries. He was co-founder and CEO of Virgin Radio for 13 years. He was also Chairman of Shazam Entertainment, a smartphone-based music identification service; co-founder of World Architecture News.com; and a director of Ginger Media Group. He is also co-founder of The Food.com.

Ian Alexander Irving Strafford-Taylor

Chief Executive Officer
Skills brought to the Board: Investment Banking, Finance and Operational Expertise

Mr. Strafford-Taylor is one of the Founders and has been a Director since 2007. Mr Strafford- Taylor has held a number of senior banking roles, including Business Unit Controller and Head of International Securities Lending at Morgan Stanley, where he worked from 1985 to 1992. Following this, Mr. Strafford-Taylor moved to UBS where he worked for 13 years as Managing Director and Global Head of Securities Borrowing & Lending, Fixed Income Repo and Prime Brokerage. Mr. Strafford-Taylor is a chartered accountant, qualifying with Arthur Andersen in 1985.

Robert (Bob) Michael Head

Non-Executive Director
Skills brought to the Board: Banking, Finance and Corporate Governance

Bob Head has held a variety of management roles including Regional Director for Old Mutual’s African interests, the joint founder of egg.com and the first CEO of smile.co.uk. His most recent roles were that of a Special Advisor to the Commissioner of SARS (South African Revenue Service) and prior to that CEO of Old Mutual’s Wealth Management Division.

 

Ajay Chowdhury

Non-Executive Director
Skills brought to the Board: Digital, Managing Growth, Innovation

Mr. Chowdhury is an experienced company director with particular expertise in digital media, digital retail, online and mobile industries. Mr. Chowdhury is Partner and Managing Director of BCG Digital Ventures and was previously CEO of Seatwave Limited, an online ticket sales marketing company, Executive Chairman of a multi-channel marketing Company, ComQi Group and Chairman of Shazam. He is also currently Non-Executive Director of the Department of Culture Media and Sport as well as the British Screen Advisory Council.

 The number of ordinary shares in issue is 155,368,259 (last updated 6 February 2019). Insofar as the Company is aware, the percentage of securities that is not in public hands is 43.17% (last updated 6 February 2019).

A list of Directors & Major Shareholders (greater than 3.0%) and the percentage of their holdings (last updated 6 February 2019) is set out below:

Name No. of Ordinary Shares held Percentage of issued share capital
Crystal Amber Fund Limited 32,836,824 21.13%
Pembar Limited 28,625,813 18.42%
BlackRock 7,617,171 4.90%
Christian Levett 7,024,900 4.52%
Stephen Heath 6,262,361 4.03%
Bill and Catherine Currie 5,450,000 3.51%

 

For assistance with investor relations enquiries contact:

Tony Quirke, Chief Financial Officer, FairFX
[email protected]

Yellow Jersey
Charles Goodwin
0203 735 8825
[email protected]

Nominated Adviser And Broker

Cenkos Securities Plc
6.7.8 Tokenhouse Yard London
EC2R 7AS

Legal Adviser To The Company

Bates Wells & Braithwaite London LLP
10 Queen Street Place
London
EC4R 1BE

Registrar

Capita Registrars Limited
The Registry
34 Beckenham Road
Beckenham
Kent
BR3 4TU

Public Relations Adviser To The Company

Yellow Jersey
7th floor
22 Upper Ground
London
SE1 9PD

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