Marshall Motor Holdings PLC Notice of AGM (1600Q)
June 17 2020 - 2:00AM
UK Regulatory
TIDMMMH
RNS Number : 1600Q
Marshall Motor Holdings PLC
17 June 2020
17 June 2020
MARSHALL MOTOR HOLDINGS PLC
(the "Company" or "Group")
Notice of AGM, 2019 Final Dividend and Change of Auditor
Marshall Motor Holdings Plc, one of the UK's leading automotive
retail groups, confirms that the Notice of its Annual General
Meeting ('AGM') to be held on 16 July 2020 is now available on its
website at www.mmhplc.com and will be posted to shareholders later
today.
Attendance at the AGM
As previously announced, in light of ongoing Government advice
to restrict all non-essential travel and social contact, the AGM
will take place at the Company's office in Milton Keynes with the
minimum quorum of attendees facilitated by the Company. Physical
attendance by other shareholders will not be permitted, however,
shareholders are encouraged to vote on the AGM resolutions
electronically and also have the opportunity to submit questions on
the AGM resolutions electronically before the meeting and such
questions, limited to matters relating to the business of the AGM
itself, should be sent to 2020AGM@mmhplc.com.
Cancellation of 2019 Final Dividend
The Company announced on 23 March 2020 that it was suspending
the payment of the final dividend for the year ended 31 December
2019. The Board now considers it prudent not to recommend the
payment of that final dividend and is not proposing a final
dividend resolution at the AGM. The Board is very mindful of the
importance of dividends to its shareholders and intends to resume
the payment of dividends as soon as conditions allow. In the short
period since our dealerships re-opened on 1 June, initial trading
has been encouraging.
Appointment of new Auditor following competitive tender
The Notice of AGM includes a resolution to appoint BDO LLP as
the Company's auditor in succession to Ernst & Young LLP who
have been the Company's external auditors for over 20 years. During
2019, the Company's Audit Committee commenced a formal, competitive
tender process for the external audit appointment. Following the
conclusion of the tender process and in accordance with the
recommendation of the Audit Committee, the Board has approved the
appointment of BDO LLP as the Company's external auditor. Further
details of the tender process are set out in the Notice of AGM.
As outgoing auditors, Ernst & Young LLP have provided the
Company with a statement of reasons, as required by company law,
which is also set out in the Notice of AGM. This statement confirms
that there are no reasons and no matters connected with Ernst &
Young LLP ceasing to hold office which they consider should be
brought to the attention of the members or creditors of the
company.
Alan Ferguson, Senior Independent Director and Chair of the
Audit Committee, said:
"On behalf of the Board, I would like to thank Ernst & Young
LLP for the service they have given the Group over many, many
years, it has been much appreciated. The tender process we ran was
extremely thorough and the Board is unanimous in its recommendation
that BDO LLP are appointed as our auditors. Subject to shareholder
approval, we are very much looking forward to working with BDO LLP
over the coming years."
ENDS
For further information and enquiries please contact:
Marshall Motor Holdings plc c/o Hudson Sandler
Daksh Gupta, Chief Executive Officer Tel: +44 (0) 20 7796
4133
Richard Blumberger, Chief Financial Officer
Investec Bank plc (Financial Adviser, Tel: +44 (0) 20 7597
NOMAD & Broker) 5970
Christopher Baird
David Flin
David Anderson
Hudson Sandler Tel: +44 (0) 20 7796
4133
Nick Lyon
Bertie Berger
Nick Moore
Notes to Editors
About Marshall Motor Holdings plc ( www.mmhplc.com )
The Group's principal activities are the sale and repair of new
and used vehicles. The Group's businesses have a total of 117
franchises covering 24 brands, operating from 98 locations across
28 counties in England. In addition, the Group operates six trade
parts specialists, two used car centres, six standalone body shops
and one pre delivery inspection centre.
In 2020 the Group was recognised by the Great Place to Work
Institute, being ranked the 12(th) best place to work in the UK
(super large company category). This was the tenth year in
succession that the Group has achieved Great Place to Work status
and the sixth year in succession that it has been named as one of
the UK's best work places.
LEI number: 213800BP3HZWHDWXAY78
This announcement contains inside information. The person
responsible for arranging the release of this announcement on
behalf of the Group is Stephen Jones, Group Company Secretary.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NOASFAFWMESSEDM
(END) Dow Jones Newswires
June 17, 2020 02:00 ET (06:00 GMT)
Marshall Motor (LSE:MMH)
Historical Stock Chart
From Jun 2024 to Jul 2024
Marshall Motor (LSE:MMH)
Historical Stock Chart
From Jul 2023 to Jul 2024