JTC PLC on Monday announced the acquisition of Hanway Advisory Ltd to strengthen its UK presence.

Formed in 2018, Hanway provides corporate governance, fund administration and accounting services to UK listed investment companies.

JTC, the Jersey-based professional services firm, said the initial consideration will be settled at completion in cash. Further deferred consideration is available upon the achievement of key client retention. No further financial details were disclosed.

JTC said the deal builds on its position as one of the leading providers of fund and corporate services globally, bringing further scale to its UK business and existing UK listed fund activities.

‘It will further support strategic growth objectives by leveraging the wider JTC fund services offering to Hanway’s existing client base,’ JTC added.

Chief Executive Nigel Le Quesne said: ‘The team at Hanway bring with them vast experience and understanding of listed fund services which enhances our existing team, enabling us to deliver an even more compelling service to our UK listed clients.’

Shares in JTC were up 1.0% to 971.00 pence each in London on Monday morning.

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