Arbuthnot Banking Group PLC Annual General Meeting Statement (5690Y)
May 09 2019 - 11:05AM
UK Regulatory
TIDMARBB
RNS Number : 5690Y
Arbuthnot Banking Group PLC
09 May 2019
9 May 2019
ARBUTHNOT BANKING GROUP PLC
Annual General Meeting Statement - 2019
The Board of Arbuthnot Banking Group PLC ("ABG" or "the Group")
announces that shareholders approved all of the resolutions
proposed at the Annual General Meeting held today, Thursday, 9 May
2019.
As a result, ABG will proceed to issue the Ordinary Non-Voting
Shares as announced on 1 May 2019. Admission of ABG Ordinary and
Ordinary Non-Voting shares to NEX Exchange Growth Market is
expected to occur on 17 May 2019.
At the meeting the Chairman, Sir Henry Angest, made the
following statement:
"The Group has made a positive start to the year, customer loans
and deposits at the end of April have increased by 13% and 18%
respectively compared to the same time last year.
The lending markets continue to be competitive, however, we
remain committed to our risk and return methodology and continue
not to chase loan volumes.
Our Asset Based Lending division broke even in March, nine
months ahead of its business plan.
Also the Specialist Finance business is progressing with its
soft launch and expects to be fully operational in the third
quarter of the year.
At the end of April, Arbuthnot Direct had opened 161 term
savings accounts raising GBP9m of deposits, which is ahead of our
expectations.
The Group continues its diversification programme, and we expect
this to develop further throughout the remainder of the year."
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU No. 596/2014). Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
Arbuthnot Banking Group
Sir Henry Angest, Chairman and Chief Executive
Andrew Salmon, Group Chief Operating Officer 0207 012
James Cobb, Group Finance Director 2400
Grant Thornton (Nominated Adviser and NEX Exchange Corporate
Adviser)
Colin Aaronson
Samantha Harrison 020 7383
Niall McDonald 5100
Numis Securities Ltd (Joint Broker)
Chris Wilkinson 0207 260
Stephen Westgate 1000
Shore Capital (Join Broker)
Hugh Morgan 020 7408
Daniel Bush 4090
Maitland/AMO
Neil Bennett
Sam Cartwright 020 7379
Jais Mehaji 5151
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END
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