DJ Arbuthnot Banking Group PLC Annual General Meeting Statement
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.
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
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 email@example.com or visit www.rns.com.
(END) Dow Jones Newswires
May 09, 2019 11:05 ET (15:05 GMT)