API Group PLC AGM Statement
July 19 2012 - 2:00AM
UK Regulatory
TIDMAPI
API Group plc
AGM Statement
API Group plc (AIM:API), a leading manufacturer of specialist foils and
packaging materials, will be holding its Annual General Meeting today at 10.00
a.m. at the Royal Thames Yacht Club, 60 Knightsbridge, London SW1.
At the Annual General Meeting, Richard Wright, Chairman of API Group, will
provide the following trading update:
"The Group has traded strongly in the first quarter and at this stage is on
track to meet the Board's expectations for the financial year.
Performance at API Laminates has been especially positive, despite a delay in
the shipments for the new supply contract, which is still progressing through
customer qualification. The new lamination machine installed at Laminates'
Poynton manufacturing site is operating effectively. Bulk deliveries from this
agreement are now expected to begin early in the second half of the financial
year.
The foils businesses, especially Foils Americas, are continuing to benefit from
lower material and operating costs. As anticipated, results at Holographics are
being impacted by reduced inter-company sales after the end of a large joint
project with Laminates.
Further to the Group's announcement of 30 March 2012, the Board still expects to
make a decision on the commencement of a sale process during the current
quarter."
- Ends -
For further information:
API Group plc
Andrew Turner, Group Chief Executive Tel: +44 (0) 1625 650 334
Chris Smith, Group Finance Director www.apigroup.com
Numis Securities (Broker)
James Serjeant Tel: +44 (0) 20 7260 1000
www.numis.com
Cairn Financial Advisers (Nominated Adviser)
Tony Rawlinson / Avi Robinson Tel: +44 (0) 20 7148 7900
www.cairnfin.com
Altium (Financial Adviser)
Paul Lines/Simon Lord Tel: +44 (0) 845 505 4343
www.altiumcapital.com
Media enquiries:
Abchurch
Julian Bosdet / Quincy Allan Tel: +44 (0) 20 7398 7710
quincy.allan@abchurch-group.com www.abchurch-group.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: API Group PLC via Thomson Reuters ONE
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