Eleco PLC Result of AGM & Statement (8559H)
June 26 2013 - 2:01AM
UK Regulatory
TIDMELCO
RNS Number : 8559H
Eleco PLC
26 June 2013
For release on 26 June 2013
Eleco plc
("Eleco" or the "Group")
The Construction Software and Building Systems Group
Result of AGM & Statement
Eleco plc announces that at the Annual General Meeting ("AGM")
of the Group, held yesterday, all resolutions were duly passed.
Executive Chairman, John Ketteley, makes the following
statement:
"As I reported in the Group's results, which were announced on
15 May, 2013 the past five years have seen our UK and international
software interests make good progress and grow substantially both
in value and cash generation. However, our UK building systems
businesses experienced difficult trading and have consumed
substantial cash resources. I observed that this had unbalanced the
Group and placed it under considerable financial strain.
As a result, your Board has had to take a number of difficult
decisions to deal with this situation, and I am pleased to say that
a number of our recent actions are beginning to bear fruit, and as
a consequence, in the absence of unforeseen circumstances we are
becoming increasingly confident that Eleco will arrive at a
position from which it should be able to make a full recovery.
The Group is represented by ElecoBuild(c) and ElecoSoft(c).
ElecoBuild(c) is now wholly focused on our two precast concrete
manufacturing businesses, Bell & Webster Concrete Ltd and
Milbury Systems Ltd, under the ElecoPrecast(c) banner.
ElecoSoft(c), our profitable international construction software
businesses, operates from Sweden, Germany and the United
Kingdom".
For further information please contact:
Eleco plc 0207 422 0044
John Ketteley, Executive Chairman http://www.eleco.com
Matthew Turner, Group Finance Director
Peckwater PR - Tarquin Edwards 0207 808 7340
Cenkos Securities plc - Adrian Hargrave 0207 397 8900
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFLARRIEFIV
Eleco Public (LSE:ELCO)
Historical Stock Chart
From May 2024 to Jun 2024
Eleco Public (LSE:ELCO)
Historical Stock Chart
From Jun 2023 to Jun 2024