Annual Report 2019 and AGM 2020

RNS Number : 6514J

Forterra plc

15 April 2020

 

15 April 2020

Forterra plc

Annual Report and Accounts 2019; Notice of AGM 2020; 2019 Final Dividend and Board Remuneration Update

Forterra plc (the "Company") announces that it has published its full Annual Report and Accounts for the year ended 31 December 2019 and the Notice of Annual General Meeting 2020, which is to be held at 12:00 pm on Thursday 14 May 2020 at its head office, 5 Grange Park Court, Roman Way, Northampton NN4 5EA.

Copies of the documents listed below have today been posted to shareholders:

1.  Annual Report and Accounts 2019

2.  Notice of Annual General Meeting 2020

In accordance with Listing Rule 9.6.1 of the UK Financial Conduct Authority, a copy of each of these documents has been submitted to the Financial Conduct Authority via the National Storage Mechanism and will be available for viewing shortly at  https://data.fca.org.uk/#/nsm/nationalstoragemechanism

The Annual Report and Accounts 2019 and Notice of Annual General Meeting 2020 will also be accessible later today via the Company's website at www.forterraplc.co.uk

We are closely monitoring the impact of COVID-19. It is currently the intention of the Company to hold the meeting as planned. However, the Board notes the compulsory measures passed into UK law on 26 March 2020, prohibiting public gatherings of more than two people in view of the COVID-19 pandemic. For as long as these measures remain in place, shareholders will be prohibited from attending the AGM.

As a result, shareholders are not permitted to attend the AGM in person and will not be admitted. You are instead urged to appoint the chairman of the Meeting as your proxy to vote as you direct, in accordance with the instructions explained in the Notice of AGM.

While we are obliged to take these unfortunate steps to comply with UK law, the Board remains keen to encourage engagement with our shareholders. Questions can be submitted to your Board by e-mail to [e-mail]

If the Board believes that it becomes necessary or appropriate to make alternative arrangements for the holding of the AGM due to COVID-19, we will ensure that shareholders are given as much notice as possible. Further information will be made available through an announcement to the London Stock Exchange and through our website: www.forterraplc.co.uk  

2019 Final Dividend Cancelled

The Company has previously announced that the payment of the final dividend of 7.5 pence per share had been suspended and the resolution removed from the AGM notice. The Board now wishes to confirm to shareholders that the 2019 final dividend has been cancelled.

Board Remuneration

The Board and Executive Committee have voluntarily requested that their base salaries are temporarily reduced by 20 per cent and this will be kept under review and potentially extended should Government advice keep our business activity restricted for a longer period . In addition, awards under the 2020 Performance Share Plan will be postponed and will be reconsidered by the Remuneration Committee in due course.

At the request of the Chief Executive, the Board has cancelled bonus payments payable to Directors and other employees under the 2019 Annual Bonus Scheme, including those referenced in the Annual Report and Accounts 2019.

Enquiries

Forterra plc:	[phone]
Ashley Thompson (Company Secretary)
FTI Consulting :	[phone]
Richard Mountain/Nick Hasell

Further information relating to the Company and its group can be found at www.forterraplc.co.uk .

 

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