SBIZ.L Regulatory News (SBIZ)

23 April 2019

The SimplyBiz Group plc

(the "Company" or "SimplyBiz")

Result of 2019 Annual General Meeting

SimplyBiz (AIM: SBIZ), a leading fintech and support services group, announces that all of the resolutions set out in the Notice of AGM were passed by the requisite majority at the Company's AGM, held earlier today.

Ken Davy, Non-Executive Chairman said to the meeting:

"It was just over a year ago - on the 4th of April 2018 - when we floated on AIM, and I would like to reflect for a few moments on what we told our customers, our staff and you, our shareholders, to expect when we took that important step. We said that the IPO would provide us with greater access to capital, ensure continuity and stability for all concerned and help us to continue to deliver our high quality services and technology to the many firms we serve, in order to help them secure their long-term futures and allow us to harness and expand the use of technology, which is playing such an increasingly vital role in financial services.

"Twelve months later, I am pleased to say that I believe your Group is indeed in an increased position of strength, and seen as a leader in its field.

"In particular, the additional capital, which we had access to following the IPO, has meant that we could set ourselves bigger goals, something we have clearly demonstrated by bringing Defaqto into the Group; a significant event which occurred shortly after the publication of our 2018 results.

"I would like to briefly cover some of the headlines, as to why we chose to acquire Defaqto. Speaking of headlines, in a comment on our acquisition of Defaqto, the London Evening Standard highlighted Defaqto as being the Michelin star of the financial services sector; a view I would share, as their Five Star Ratings are highly prized by providers large and small, throughout the financial services sector. Defaqto, however, has another less obvious side to its business in that it also deals directly with financial advisers. The result is that the potential combined reach of the enlarged Group has a total of nearly 4,700 financial advice firms, more mortgage and GI firms than ever before, and over 800 consumer credit firms.

"The addition of Defaqto to The SimplyBiz Group also allows us to capitalise on our joint strengths and add to the range of benefits that we already offer our respective customers. As with all of our acquisitions, we specifically looked for a firm which would mesh into the objectives and culture of the existing Group - bringing additional strength to areas in which we were less active.

"In terms of continuity and stability, I am proud that we have never lost sight of our core objective - to provide the highest quality of compliance and business support to financial advisers. The IPO has certainly not affected our focus in this area, but it has allowed us to further strengthen our executive team. You may be confident that we will maintain our unwavering commitment to putting the needs of our customers and, importantly, the needs of their clients, at the heart of everything we do.

"Similarly, whilst the size of The SimplyBiz Group team has grown - we now employ over 520 people - we still only employ two types of people; those who directly support the firms and customers we serve, and those who support the teams who deliver those services. Both of whom are equally important.

"We passionately believe in the value of professional financial advice and we will continue to do all we can to help advisers remain compliant, successful and profitable. I don't believe that there has been a better time to be a financial adviser, as the demand for advice continues to increase whilst the number of advisers struggles to keep up with demand. It will be no surprise to you that we are therefore committed to promoting financial services as an attractive career option.

"The successful apprenticeship programme run by our training and development division called the 'New Model Business Academy' offers paths to becoming a financial adviser or paraplanner. Since we launched the apprenticeship at the beginning of 2018, every cohort has been fully subscribed with future financial services professionals. Our first class of apprentices graduate shortly, and we look forward to seeing many more start their journey in the coming months and years.

"Finally, we have made huge strides with our investments into technology, and not only by welcoming Defaqto to the Group. The launch and development of our investment advice system, Centra, has proved very popular with the adviser firms who use our services and, though only launched just over a year ago, more than 2,700 licenses have already been taken up. In addition, Zest, developed by the employee benefits division of The SimplyBiz Group, has recently won some large contracts with household names including Aviva and Taylor Wimpey.

"It is clear for all to see that we are combining technology and personal services in order to give The SimplyBiz Group a unique advantage within the financial services market place. I believe our combination of high-tech with high-touch gives us real confidence in our ability to continue to grow.

"These investments in the fintech market are important pointers to the future of your Group and the way in which technology can support the hugely important work done by advisers. Financial Services has always been a sector with people at its heart, and you, our Shareholders, may be confident that we are determined to continue to work to improve the outcomes for the end clients and the advisers and providers who serve them.

Since its launch in 2002, The SimplyBiz Group has never stood still - we work hard to retain the position of market-leader, and I can assure you we will continue to do so."

Details of the proxy votes received by the Company are as follows:

*Special resolution

Notes:

1. Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution.

2. Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution.

3. A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against".

4. The number of shares in issue on 23 April 2019 was 96,782,296 with no shares in treasury.

5. The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company's website at www.simplybizgroup.co.uk

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