REG - Arbuthnot Banking - Annual General Meeting Statement

Arbuthnot BankingAnnouncement

09/05/2019 16:10

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 £9m 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
James Cobb, Group Finance Director


0207 012 2400




 




Grant Thornton (Nominated Adviser and NEX Exchange Corporate Adviser)
Colin Aaronson
Samantha Harrison
Niall McDonald


020 7383 5100




 




Numis Securities Ltd (Joint Broker)
Chris Wilkinson
Stephen Westgate


0207 260 1000




 




Shore Capital (Join Broker)
Hugh Morgan
Daniel Bush


020 7408 4090




 




Maitland/AMO
Neil Bennett
Sam Cartwright
Jais Mehaji


020 7379 5151




 




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