Business
Annual General Meeting Statement
Annual General Meeting Statement.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n \nRNS Number : 5690Y Arbuthnot Banking Group PLC 09 May 2019 \n\n9 May 2019\n \nARBUTHNOT BANKING GROUP PLC\n \n \nAnnual General Meeting Statement - 2019\n \nThe 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.\n \nAs 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.\n \nAt the meeting the Chairman, Sir Henry Angest, made the following statement:\n \n\"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.\n \nThe lending markets continue to be competitive, however, we remain committed to our risk and return methodology and continue not to chase loan volumes.\n \nOur Asset Based Lending division broke even in March, nine months ahead of its business plan.\n \nAlso the Specialist Finance business is progressing with its soft launch and expects to be fully operational in the third quarter of the year.\n \nAt the end of April, Arbuthnot Direct had opened 161 term savings accounts raising £9m of deposits, which is ahead of our expectations.\n \nThe Group continues its diversification programme, and we expect this to develop further throughout the remainder of the year.\"\n \nThe 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.\n \n \nEnquiries:\n\n\n\n\nArbuthnot Banking Group\nSir Henry Angest, Chairman and Chief Executive\nAndrew Salmon, Group Chief Operating Officer\nJames Cobb, Group Finance Director\n\n\n0207 012 2400\n\n\n\n\n \n\n\n\n\nGrant Thornton (Nominated Adviser and NEX Exchange Corporate Adviser)\nColin Aaronson\nSamantha Harrison\nNiall McDonald\n\n\n020 7383 5100\n\n\n\n\n \n\n\n\n\nNumis Securities Ltd (Joint Broker)\nChris Wilkinson\nStephen Westgate\n\n\n0207 260 1000\n\n...