Five Directors Buy 1.89% Stake in Cornerstone amidst Revenue Boost
- The directors bought 223,500 ordinary shares on January 20th via LSE.
- Cornerstone expects FY22 revenue to skyrocket by 109% to £4.8M.
Five directors of Cornerstone FS PLC, a cloud-based provider of global payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl and currency risk management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, services, have secured a total of 1.89% shares in the company via the London Stock Exchange (LSE). The transaction was sealed on January 20th.
According to a press statement shared with Finance Magnates, the five directors are Gareth Edwards (Non-Executive Chairman), James Hickman (Chief Executive Officer), Judy Happe (Chief Financial Officer), John Burns (Non-Executive Director) and Simon Bullock (Non-Executive Director).
These directors, respectively, bought shares worth the following percentages of total voting rights: 1.49%, 0.14%, 0.05%, 0.01% and 0.20%. In total, they acquired a total of 223,500 ordinary shares in the capital of Cornerstone, the statement said.
Watch this recent FMLS22 session on trends that will shape payment processing in 2023.
The development comes only weeks after Cornerstone disclosed that it expects its revenue for fiscal year 2022 to surge by 109% to £4.8 million, powered by strong trading momentum throughout the year. Finance Magnates reports that this is 12% above market expectations. Similarly, the company saw its half-year revenue skyrocket by 127% year-over-year in 2022.
Hickman, who assumed the CEO position in August last year, has previously noted that the expected increase in revenue cuts across all areas of the firm’s businesses.
Cornerstone Strengthens Business
Cornerstone, which was admitted to the Alternative Investment Market of the London Stock Exchange in April 2021, has taken a number of steps in recent months to strengthen its business.
In December last year, the company agreed to sell its electronic money institution, Avila House, to Aspire Commerce for £300,000 to boost its cash reserves. The transaction is expected to be closed during the first quarter of this year. The deal comes less than a year after the company’s primary operating subsidiary, FXPress, was granted the Authorized Electronic Money Institution (AEMI) license by the UK's Financial Conduct Authority.
Furthermore, Cornerstone in September acquired Pangea FX Limited, a specialist FX and treasury consulting company. Hickman explained that the move will help the company to drive its growth.
Five directors of Cornerstone FS PLC, a cloud-based provider of global payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl and currency risk management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, services, have secured a total of 1.89% shares in the company via the London Stock Exchange (LSE). The transaction was sealed on January 20th.
According to a press statement shared with Finance Magnates, the five directors are Gareth Edwards (Non-Executive Chairman), James Hickman (Chief Executive Officer), Judy Happe (Chief Financial Officer), John Burns (Non-Executive Director) and Simon Bullock (Non-Executive Director).
These directors, respectively, bought shares worth the following percentages of total voting rights: 1.49%, 0.14%, 0.05%, 0.01% and 0.20%. In total, they acquired a total of 223,500 ordinary shares in the capital of Cornerstone, the statement said.
Watch this recent FMLS22 session on trends that will shape payment processing in 2023.
The development comes only weeks after Cornerstone disclosed that it expects its revenue for fiscal year 2022 to surge by 109% to £4.8 million, powered by strong trading momentum throughout the year. Finance Magnates reports that this is 12% above market expectations. Similarly, the company saw its half-year revenue skyrocket by 127% year-over-year in 2022.
Hickman, who assumed the CEO position in August last year, has previously noted that the expected increase in revenue cuts across all areas of the firm’s businesses.
Cornerstone Strengthens Business
Cornerstone, which was admitted to the Alternative Investment Market of the London Stock Exchange in April 2021, has taken a number of steps in recent months to strengthen its business.
In December last year, the company agreed to sell its electronic money institution, Avila House, to Aspire Commerce for £300,000 to boost its cash reserves. The transaction is expected to be closed during the first quarter of this year. The deal comes less than a year after the company’s primary operating subsidiary, FXPress, was granted the Authorized Electronic Money Institution (AEMI) license by the UK's Financial Conduct Authority.
Furthermore, Cornerstone in September acquired Pangea FX Limited, a specialist FX and treasury consulting company. Hickman explained that the move will help the company to drive its growth.