Conister Financial Group PLC "CFG"
CFG was incorporated in the Isle of Man in 2006 specifically for the purpose of implementing a scheme of arrangement for Conister Trust PLC.
CFG is the new parent company of both Conister Trust and Transsend Holdings Ltd, both Isle of Man incorporated companies. There are two divisions in the group namely banking (Conister Trust) and pre-paid cards (TransSend).
Conister Trust is a company incorporated in the Isle of Man in 1935 and whose shares have traded on AIM since 1995. It is a licensed bank in the Isle of Man and a member of the Mastercard network. Conister takes deposits and provides secured and unsecured lending to individuals and corporates, insurance premium finance and, currently, litigation funding. With the implementation of the scheme of arrangement CFG has been admitted to AIM and Conister Trust has been re-registered as a private limited company and its admission to AIM has been cancelled.
TransSend focuses on pre-paid card services. There are two main companies - Transsend Payments Ltd and Transsend (IOM) Ltd. Transsend Payments is a UK based company that has been established to enter the pre-paid card market and focuses on sales and marketing. Transsend (IOM) is an Isle of Man based company that provides operational support to the pre-paid card business.
For full details on Conister Trust visit www.conistertrust.com and TransSend visit www.transsend.eu