Business
Final Results, Notice of AGM and Publication of AR
Final Results, Notice of AGM and Publication of AR.
About this update from Finseta Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0926B\n Cornerstone FS PLC\n 08 June 2021\n \n \n \n \n Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (\"MAR\") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain\n .\n \n \n \n \n \n 8 June 2021\n \n \n Cornerstone FS plc\n \n \n (\"Cornerstone\", the \"Company\" or the \"Group\")\n \n \n \n \n \n Final Results\n \n \n Notice of AGM and Publication of Annual Report\n \n \n \n \n \n Cornerstone FS plc (AIM: CSFS), the cloud-based provider of international payment, currency risk management and electronic account services to SMEs, announces its final results for the year ended 31 December 2020. In addition, the Company gives notices of its annual general meeting (\"AGM\") and publication of its annual report and accounts, both of which are now available to download from the Company's website at \n \n https://investors.cornerstonefs.com/document-centre/\n \n .\n \n \n \n \n \n Highlights*\n \n \n · \n Transformational acquisitions to position Cornerstone as a fintech business focused on providing foreign currency management:\n \n \n o \n FXPress Payment Services Ltd (\"FXPress\"), a provider of advanced payment systems as platform-as-a-service to SMEs\n \n \n o \n Avila House Limited (\"Avila House\"), a licensed small e-money institution\n \n \n · \n Revenue of £1.7m (2019: £1.2m)\n \n \n · \n Transacted payments worth over £462m (2019: £336m)\n \n \n · \n Onboarded 328 new clients (2019: 181) \n \n \n · \n Total number of clients increased to 732 (2019: 530)\n \n \n · \n Post period, Cornerstone was admitted to trading on AIM and raised gross proceeds of £2.7m through the placing of ordinary shares and convertible loan note facilities\n \n \n * While the consolidated financial information has been issued in the name of Cornerstone FS plc, the legal parent, it represents in substance the continuation of the financial information of the legal subsidiary, FXPress. As such, the prior-period comparatives represent the results of FXPress only and are for a nine-month period commensurate with FXPress' last accounting reference period. See 'Basis of Consolida...