Business
AGM Trading Update and Directorate Change
AGM Trading Update and Directorate Change.
About this update from C&c Group Plc
[{"type":"text","content":"\n\n \nAGM Trading Update and Directorate Change\n \nFeargal O'Rourke appointed as an independent, Non-Executive Director\n \nDublin, London, 15 August 2024: C&C Group plc ('C&C' or the 'Group') provides the following trading update ahead of the Group's Annual General Meeting (\"AGM\"), which will be held later today. C&C also announces the appointment of Mr Feargal O'Rourke as an independent, Non-Executive Director with effect from the conclusion of today's AGM.\n \nTrading Update\nGroup earnings have been in line with expectations in the financial year-to-date, despite the well-documented poor weather in June, more detail of which will be provided in our FY2025 Half Year Trading Update on 9 September 2024. We remain confident of achieving our earnings expectations for the full year, reflecting significant growth relative to FY2024, and reaffirm our commitment to recommence our second €15m tranche of our share buyback programme from 1 September.\n \nThe Group previously communicated its intention to deliver at least €150m to shareholders over the next three years ending in February 2025, 2026, and 2027 through an appropriate mix of share buybacks, dividends and special dividends depending on prevailing circumstances. C&C commenced a €15m share buyback programme on 1 March 2024 which has been completed. The Group will commence the second tranche shortly. Subject to shareholder approval today, the Directors have also proposed a final dividend of 3.97 cent per share. An interim dividend of 1.89 cent per share was paid in December, making a full year dividend of 5.86 cent per share.\n \nDirectorate Change\nMr Feargal O'Rourke will join the Board as an independent, Non-Executive Director with effect from the conclusion of today's AGM. Upon his appointment, Mr O'Rourke will also become a member of the Audit Committee. The appointment of Mr O'Rourke follows a rigorous process to recruit a new Non-Executive Director led by the Nomination Committee with the support of an independent executive search firm.\n \nThe Board is reviewing the composition of its committees and will announce an update to committee membership in due course.\n \nRalph Findlay, C&C Group Chair & CEO, commented: \"Feargal brings valuable expertise to C&C having advised companies on a broad range of ...