Cenkos Securities PLC AGM Statement (9951Q)
25 6월 2020 - 3:00PM
UK Regulatory
TIDMCNKS
RNS Number : 9951Q
Cenkos Securities PLC
25 June 2020
25 June 2020
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Cenkos Securities plc
("Cenkos" or the "Company")
AGM Statement
Cenkos will be holding its Annual General Meeting later today.
In line with the Government's current restrictions on social
gatherings this meeting will be a closed meeting and as such, and
as previously advised, shareholders will not be admitted to the
meetin g. The results of voting will be announced following the
conclusion of the meeting.
The Board provides the following update prior to holding its
Annual General Meeting.
Despite the Covid-19 pandemic making for a challenging market
environment the Company has operated normally throughout the period
and continues to win new clients and to raise funds for its
clients. Consequently, the Company's revenues in the first five
months of this year are ahead of the same period for last year.
In the latter part of 2019 following the unfavourable market
backdrop (before Covid-19), the Board implemented steps to reduce
the Company's cost base. As a result, Cenkos' annual fixed cost
base today is significantly lower than in 2019, although most of
these savings will come through in the second half of 2020.
The Company has a strong balance sheet and financial resources
well in excess of its regulatory requirements.
Although material uncertainty remains on the effect that the
lifting of Covid-19 restrictions will have on the economy, we are
currently working on several transactions for our clients, and with
our potential pipeline, together with a lower cost base in place we
are well placed to meet the challenges ahead and are cautiously
optimistic for the rest of the year.
As previously announced immediately following the conclusion of
the Annual General Meeting Lisa Gordon will take up her position as
an Independent Non-Executive Director and to the position of
Chairman of the Company.
For further information, please contact:
Cenkos Securities plc Tel: 0207 397 8900
Jim Durkin, Chief Executive
Officer
SPARK Advisory Partners Limited Tel: 0203 368 3552
Matt Davis, Nominated Adviser
Buchanan Communications Tel: 0207 466 5066
David Rydell, PR Adviser
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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 or visit www.rns.com.
END
AGMFIMFTMTTTBIM
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June 25, 2020 02:00 ET (06:00 GMT)
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