TIDMANX
RNS Number : 5026T
Anexo Group PLC
25 November 2021
For immediate release 25 November 2021
Anexo Group plc
('Anexo' or the 'Group')
Major Claims Contract with MCE Insurance
Appointment of Director
Anexo Group plc (AIM: ANX), the specialist integrated credit
hire and legal services provider, is delighted to announce that it
has signed a major agreement with UK-based broker MCE Insurance
('MCE') to offer post-accident claims services to all MCE's
non-fault insurance customers. This follows motor insurer Sabre
Insurance Group plc signing an agreement with MCE which will see it
become the exclusive underwriter of MCE's motorcycle policies.
UK-based MCE is independently owned and since its foundation in
1975 has grown to become one of the UK's largest providers of
motorcycle insurance. Under the terms of the agreement, Anexo will
assume responsibility for dealing with claims from customers of MCE
who are victims of non-fault accidents. Replacement motorcycles
will be provided through Anexo's credit hire division, DAMS, and
customers will be supported in their legal claims against the
at-fault insurer by its legal services division, Bond Turner. Where
appropriate, claims will include personal injury and damage to
possessions and equipment as well as vehicle repair or replacement.
Statistics show that motorcyclists are particularly vulnerable to
personal injury as a result of non-fault accidents.
Anexo expects the agreement to lead to a significant increase in
both the number of vehicles on the road and the number of cases
being handled by Bond Turner. The agreement, which is for an
initial three-year period, is expected to have a materially
positive impact on revenues and to enhance earnings from FY
2022.
Alan Sellers, Executive Chairman of Anexo, said:
"We are delighted to sign this significant agreement with MCE
Insurance. We have a long track record of providing replacement
vehicles and claims support to the motorcycle community and our
motorcycle numbers have been growing, particularly due to the
increasing volume of couriers on the road during the COVID
pandemic. The agreement provides a substantial source of new
business in addition to the introductions we currently receive from
our network of over 1100 introducer garages. It represents a major
contribution to our growth strategy as we work to expand our
business and create value for all our shareholders."
Julian Edwards, Chief Executive Officer of MCE, said:
"Our customer service is our biggest priority at MCE. Partnering
with Anexo gives us access to seamless claims management,
replacement vehicles and legal services for our customers. This
deal means we can focus our efforts on growing the broker business,
knowing we have scalable, first class claims handling service from
a group of leading companies."
Director Appointment
The Group is pleased to announce, with immediate effect, the
appointment of Brian Corrway, to the Board as a Non-Executive
Director.
Mr Corrway, a Chartered Certified Accountant, was nominated by
DBAY Advisors Limited ('DBAY') and is being appointed under the
terms of the shareholder agreement originally announced on 12
November 2020 which gives DBAY the right to appoint up to three
Non-Executive Directors to the Board.
Mr Corrway does not hold a position of employment, or
shareholding, in DBAY.
The following additional information is provided in accordance
with paragraph (g) of Schedule Two to the AIM Rules for
Companies:
Full Name: Brian Corrway
Age: 50
Current directorships /
partnerships
Financial Control Solutions
Limited
Directorships / partnerships within the last five years
ESLL Group Limited
AHL Anglia Limited
AIL Anglia Limited
Bluewhitestar Developments Limited
Eddie Stobart Distribution Limited
Eddie Stobart Group Limited
Eddie Stobart Logistics Limited
IForce Auctions Limited
IForce Limited
IForce Trading Limited
Stobart Truckstops Limited
The Logistic People Limited
The Logistics People Limited
Puro Ventures Limited
Eezehaul Limited
The Pallet Network Limited
Acumen Distribution Services Holdings Limited
Greenwhitestar Acquisitions Limited
Eddie Stobart Limited
IForce Group Limited
The Pallet Network Group Limited
Logistics Security Limited
Brian Corrway does not hold any Ordinary Shares in the
Company.
There is no further information to be disclosed in relation to
Mr Corrway's appointment pursuant to AIM Rule 17, paragraph (g) of
Schedule Two of the AIM Rules for Companies.
- Ends -
For further enquiries:
Anexo Group plc +44 (0) 151 227 3008
www.anexo-group.com
Alan Sellers, Executive Chairman
Mark Bringloe, Chief Financial Officer
Nick Dashwood Brown, Head of Investor
Relations
Arden Partners plc
(Nominated Adviser and Broker)
John Llewellyn-Lloyd / Louisa Waddell +44 (0) 20 7614 5900
(Corporate) www.arden-partners.co.uk
Tim Dainton (Equity Sales)
Panmure Gordon +44 (0) 20 7886 2500
(Joint Broker) www.panmure.com
Ed Walsh/Dominic Morley
Notes to Editors:
Anexo is a specialist integrated credit hire and legal services
provider. The Group has created a unique business model by
combining a direct capture Credit Hire business with a wholly owned
Legal Services firm. The integrated business targets the
impecunious not at fault motorist, referring to those who do not
have the financial means or access to a replacement vehicle.
Through its dedicated Credit Hire sales team and network of over
1,100 active introducers around the UK, Anexo provides customers
with an end-to-end service including the provision of Credit Hire
vehicles, assistance with repair and recovery, and claims
management services. The Group's Legal Services division, Bond
Turner, provides the legal support to maximise the recovery of
costs through settlement or court action as well as the processing
of any associated personal injury claim.
The Group was admitted to trading on AIM in June 2018 with the
ticker ANX.
For additional information please visit: www.anexo-group.com .
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END
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