Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Worldspreads Group (WSPR)

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Tuesday 28 February, 2012

Worldspreads Group

Trading Update and Resignation of Director

RNS Number : 2282Y
Worldspreads Group PLC
28 February 2012

WorldSpreads Group plc

("WorldSpreads" or the "Group")

Trading Update and Resignation of Director

The Board of WorldSpreads Group plc provides the following update on current trading.

Since our interim results, which were released on 30 November 2011, the Group has continued to demonstrate substantial improvement in its key performance indicators.  In the 12 months to 31 January 2012, transaction volumes increased by more than 60%, active clients increased by more than 35% and new funded clients increased by 40% over the comparable period for the previous 12 months. 

The Group has continued to invest in its IT systems. Its new mobile interface was delivered at the beginning of 2012 and our proprietary CFD trading platform is scheduled for launch in early March. The Group's international expansion has also progressed with strong growth seen in France and Germany in particular.  As previously announced, the Group opened a new sales office in Tel Aviv and we have begun to see strong interest in our products from both introducing brokers and clients.

At the time of announcing our interim results, the Board expected that Group revenues would be weighted towards the second half of the financial year ending 31 March 2012.  However, despite the strong growth across the Group's key performance indicators, this has not translated into top line revenue growth particularly in the period since 1 January 2012. A combination of benign market conditions and low volatility in certain key markets has significantly impacted revenues.  As a result the Board now anticipates that the Group will report a loss for the full financial year.  The Board believes that the Group has recently been experiencing an unusual pattern of client trading and fully expects a more normal trend to prevail in future. The Group maintains a strong balance sheet with net cash of €7.0 million as at 31 January 2012.

As a separate and unrelated matter, Director and CFO of the Group Niall O'Kelly has submitted his resignation after eight years' service to the Group. Mr O'Kelly is based in Ireland and has been involved for some months in preparing the way for a move of the Group Finance function to the London regulated subsidiary where the Group's risk management function is centred. Mr O'Kelly has a 12 month notice period and will continue to work for the Group and assist with the handover process to his replacement. The Board will agree his final date once a suitable replacement can be found.

Conor Foley, Group CEO, commented: "Despite the successful implementation of our sales and marketing campaign, improving performance from our new overseas operations and the successful cost management structures in place, we are disappointed to report that revenues for the second half of the Group's financial year ended 31 March 2012, will be behind our previous expectations.  Market conditions since 1 January 2012 have been such that, whilst transaction volumes have been high, revenues have not increased at the same pace.  We continue to review the returns delivered by our trading strategy and are confident that the recent trend in our clients' trading results will reverse over the medium term.

Mr O'Kelly has made a major contribution to the development and growth of the Group over the past eight years. On behalf of the Board I'd like to thank Niall for his hard work and service."

For further information, please contact:

WorldSpreads Group plc

Conor Foley, Chief Executive Officer / Niall O'Kelly, Chief Financial Officer

+353 (0)1 775 5210 / +44 (0)20 7398 5100

Collins Stewart Europe Limited

Matt Goode / Rishi Shah

+44 20 7523 8350


Peter O'Carroll

+353 (0) 1 611 9200


About WorldSpreads Group plc


WorldSpreads Group plc (AIM: WSPR) is a financial services group offering online and telephone trading. The Group's core activity is the provision of spread betting and CFD products on the financial markets to retail clients from its website


WorldSpreads Limited, a wholly-owned trading subsidiary of WSPR, is regulated and authorised by the Financial Services Authority.  It offers a full range of spread betting and CFD prices on all the major financial markets, including stock indices, individual shares, currencies, commodities and interest rates.


The Group floated on the London Stock Exchange's AIM market in August 2007 and gained a dual listing by joining the Irish Stock Exchange's IEX market in May 2008.




This information is provided by RNS
The company news service from the London Stock Exchange

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