React Group PLC AGM Statement (5817T)
March 21 2023 - 3:00AM
UK Regulatory
TIDMREAT
RNS Number : 5817T
React Group PLC
21 March 2023
21 March 2023
REACT Group plc
("REACT", the "Group" or the "Company")
AGM Statement
REACT Group plc (AIM: REAT.L), the leading specialist cleaning,
hygiene, and decontamination company, will today hold its Annual
General Meeting ("AGM") at midday in the ABBOTTS SUITE , Novotel
London Blackfriars, 46 Blackfriars Road, London SE1 8NZ.
Shareholders will be able to participate in the AGM via the
Investor Meet Company ("IMC") platform however shareholders will
not be able to vote at the meeting as voting on all resolutions was
conducted by way of proxy and the deadline for proxy votes to be
received has now passed. Shareholders wishing to participate in the
virtual AGM should sign up to IMC for free ahead of the AGM via:
https://www.investormeetcompany.com/react-group-plc/register-investor
and request to meet the Company. Once registered, shareholders will
automatically be emailed an invitation which they should accept in
order to receive a unique link to access the AGM.
Mark Braund, Executive Chairman, will make the following
statement at the AGM:
"When we announced the Group's results for the year ended 30
September 2022 in February, the Board noted the new financial year
had started positively with the first quarter delivering a record
performance. Notably the Group has benefitted from its ability to
cross sell other business services into existing and new customers.
Evidence of this is the recent contract win, with an estimated
value of GBP800k in the current financial year, to provide
services, through a coordinated programme from all three segments
of the business to a large fast-service food restaurant across all
its sites in the UK. This positive contract win momentum has
continued, with good sales growth in all three divisions of the
business.
LaddersFree, one of the largest commercial window cleaning
businesses in the UK, continues to have strong sales performance
with recent notable contract wins including a prestigious
nationwide furniture retailer and another restaurant group with
some of the UK's best known brands. LaddersFree is benefitting from
a mix of national and local customers enabling it to deliver
material growth for the Group.
Fidelis experienced a slightly slower start to the year but has
since won some significant new contract awards. A GBP500k 18-month
contract with a sizeable Midlands-based school has been agreed
alongside numerous contract renewals which include another school
worth around GBP540k over three years and an annual contract with
an NHS Trust worth almost GBP200k.
The REACT business which provides a solution to often urgent
one-off situations has had a steady period in which it has won new
contracts to carry out high-end cleaning projects for established
facilities management businesses, schools and universities. These
ad hoc contracts can be valuable but by definition are less
dependable.
The Group continues to benefit from further cross-selling
opportunities and the pipeline of new business is strong. Whilst we
are witnessing good demand for our services, the Board is
continually mindful of the economic environment, particularly in
the retail and hospitality sectors and therefore views the future
with cautious optimism."
For more information:
REACT Group Plc Tel: +44 (0) 1283 550
Shaun Doak, Chief Executive Of cer 503
Andrea Pankhurst, Chief Financial Officer
Mark Braund, Chairman
Singer Capital Markets Tel: +44 (0) 207 496
(Nominated Adviser / Broker) 3000
James Moat / Philip Davies
IFC Advisory Tel: +44 (0) 20 3934
(Financial PR / IR) 6630
Graham Herring / Zach Cohen
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END
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