AGM Statement
26/10/2023 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231026:nRSZ3257Ra&default-theme=true
RNS Number : 3257R Mattioli Woods PLC 26 October 2023
26 October 2023
Mattioli Woods plc
("Mattioli Woods", "the Company" or "the Group")
AGM Statement
Mattioli Woods (AIM: MTW.L), the specialist wealth and asset management
business, will hold its Annual General Meeting ("AGM") at 10.00 a.m. today.
The Group continues to see sustained demand for advice, underpinning growth in
our advice business, which has continued into the current year to date with
249 new clients choosing to join Mattioli Woods. We are focused on developing
our investment proposition and Maven, our private equity business, continues
to perform and integrate well across the Group with a strong pipeline of deals
planned for future introduction to the Group's qualifying clients.
The Group continues to focus on delivering synergies with acquired businesses,
advancing key strategic initiatives, including the introduction of a new
pension banking proposition, offering clients better interest rates and the
Group an enhanced banking margin. At the same time, further progress is being
made with the roll-out of the Group-wide client relationship management
system, Xplan, to improve operational efficiency.
The Group continues to trade in line with the Board's expectations.
Board changes
As previously announced, as part of the long-term strategic planning to
support the delivery of the Group's strategic goals, David Kiddie will step
down as Chair and Non-Executive Director ("NED") following the conclusion of
today's AGM and, accordingly, will not be seeking re-election today. The Board
thanks David for his commitment to the Group in his role as a NED and Chair
and are pleased to retain David's expertise with the Group in a consultancy
role to support the on-going development of the Group's investment
proposition.
Anne Gunther will assume the role of Chair, and following regulatory approval,
which has now been received, Anne's appointment as Chair will take effect
today following the AGM.
The Board has received and accepted the resignation of Edward Knapp, who steps
down from the Board and as NED following his resignation due to other business
commitments. The Board would like to thank Edward for his contribution and
insights during his time with the Group and wish him well for the future. In
light of this information, AGM Resolution 4 in respect of his re-election will
not be proposed.
The Board is pleased to announce that it has identified suitable candidates
for the role of independent Non-Executive Director, who are expected to be
appointed to the Board following the completion of due diligence. This
underscores our commitment to ensuring that the Board remains balanced and has
the requisite skills and experience to oversee the Group's performance, and
the realisation of our strategic goals. Announcements on these new
appointments will be made in due course.
- Ends -
For further information please contact:
Mattioli Woods plc
Ian Mattioli MBE, Chief Executive Officer
Ravi Tara, Chief Financial Officer Tel: +44 (0) 116 240 8700
Michael Wright, Deputy Chief Executive Officer www.mattioliwoods.com (http://www.mattioliwoods.com)
Canaccord Genuity Limited (Nominated Adviser and Joint Broker)
Emma Gabriel Tel: +44 (0) 20 7523 8000
Harry Pardoe www.canaccordgenuity.com (http://www.canaccordgenuity.com)
Singer Capital Markets (Joint Broker)
Tom Salvesen
Justin McKeegan
Alaina Wong Tel: +44 (0) 20 7496 3000
www.singercm.com (http://www.singercm.com)
Media enquiries:
Camarco
Julia Tilley Tel: +44 (0) 20 3757 4998
Alex Campbell www.camarco.co.uk
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 (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END AGMUVSRROKURUUA