REG - React Group PLC - AGM Statement

ReactAnnouncement

27/03/2025 07:15

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RNS Number : 3788C  React Group PLC  27 March 2025

27 March 2025

 

REACT Group plc

("REACT", the "Group" or the "Company")

 

AGM Statement

 

REACT (AIM: REAT), the leading specialist support services provider to the FM
industry, will hold its Annual General Meeting ("AGM") today at 11:30 a.m. at
the offices of Singer Capital Markets, 1 Bartholomew Lane, London, EC2N 2AX.

 

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
(at no cost) ahead of the AGM via:
https://www.investormeetcompany.com/react-group-plc/register-investor
(https://protect.checkpoint.com/v2/r06/___https:/www.investormeetcompany.com/react-group-plc/register-investor___.ZXV3MjpyZWFjdHNjOmM6bzoyY2EwNTk5ODNiZjFmMGQ4NGFmZDEyYWEwYWIzY2MzYzo3Ojg0MDk6MWJlN2FkZjI4MWU3OTg4YzBhYjc3Y2E4NjJlY2U3OTYyZjMyMDIxYTU2NmJhYmUwMmRmN2FjYjA1M2MwMTRjYzpwOlQ6Tg)
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:

 

"We are pleased to report that the Group is continuing to perform well in
challenging market conditions. Sales and marketing initiatives have yielded
positive returns across each of the divisions and the ongoing pipeline of new
business remains robust as we seek to address reduced customer activity and
invest in specific projects to drive growth and operational efficiencies.

 

"The Board is particularly pleased with the resilient performance and
integration of the recently acquired 24hr Aquaflow Services which completed at
the end of October last year. The demonstrable success of this business was
highlighted by the recent announcement of a new 12-month contract to provide
contracted commercial drainage services to an FM sector customer on behalf of
a landmark site in Central London.

 

"The Group continues to benefit from the considerable cross-selling and
upselling opportunities between each division. Whilst the uncertain
macroeconomic backdrop has resulted in reduced frequencies of certain
contracts, strong underlying demand remains for the Group's offering and our
customers continue to seek the best-in-class service that we proudly provide.

 

"We are also pleased to report that Project 'Sparkle', the development of a
unified digital platform to automate, support and scale our nationwide
commercial window cleaning business and our ability to cross-sell other
relevant services bought by the same customers, and potentially delivered by
the same membership resource throughout the Group, is progressing extremely
well and the Board is delighted with the outcomes that are being created.

 

 

"The Board remains mindful of the market headwinds highlighted in its FY24
results but continues to have confidence in the resilience of our divisions.
Its focus on mid-market opportunities with shorter decision-making lead times
positions the Group well to expand its small share of large, fragmented
markets. This is demonstrated by the recent award of contracts across the
Group with well-established, high-profile customers who value the services we
provide."

 

For more information:

 

 REACT Group                           Tel: +44 (0) 1283 550 503
 Shaun Doak, Chief Executive Officer

 Spencer Dredge, Chief Financial Officer
 Mark Braund, Chair

 Singer Capital Markets - Nominated Adviser & Joint Broker                           Tel: +44 (0) 207 496 3000
 Philip Davies / Alex Bond / Oliver Platts

 Dowgate Capital - Joint Broker                                                      Tel: +44 (0) 20 3903 7715
 Nicholas Chambers

 IFC Advisory - Financial PR & IR      Tel: +44 (0) 20 3934 6630
 Graham Herring / Zach Cohen

 

About Us:

 

REACT Group plc, the UK's leading support services provider to the facility
management (FM) sector, operates with four divisions: LaddersFree, one of the
largest commercial window cleaning businesses in the UK; Fidelis Contract
Services ("Fidelis"), a contract cleaning and soft facilities maintenance
business; REACT business, which primarily provides a solution to emergency and
specialist cleaning situations, both through long-term framework agreements
and on an ad-hoc basis and recently acquired 24hr Aquaflow Services Ltd, a
commercial drainage and plumbing services business which delivers services to
clients in the south east of England.

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