Announcement of Special Dividend

RNS Number : 8175W

ME Group International PLC

20 April 2023

 

20 April 2023

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.Upon the publication of this announcement, this inside information is now considered to be in the public domain.

ME GROUP INTERNATIONAL PLC
("the Group" or "the Company")

Announcement of Special Dividend

ME Group International plc (LON: MEGP), the instant-service equipment group, is pleased to announce an additional return to shareholders of £2,268,910 by way of a special dividend of 0.6 pence per ordinary share (the "Special Dividend") in respect of the 12 months ended 31 October 2022 ("FY 2022"). This brings the total dividends awarded in respect of the FY 2022 period being 12.7 pence per ordinary share.

The Board has considered the strong financial performance delivered in FY 2022 as well as its immediate capital requirements and has concluded that providing a one-off Special Dividend is an appropriate way to return excess capital to shareholders. The Special Dividend will be awarded to shareholders on the register as at 28 April 2023 and will be paid on 19 May 2023. The ex-dividend date is 27 April 2023.

The Special Dividend is in addition to the previously announced final dividend (the "Final Dividend") of 3.0 pence per ordinary share in respect of FY 2022, which totals £11,344,549. Subject to approval at the Company's AGM on 28 April 2023, the Final Dividend will be paid to shareholders on 12 May 2023.

Going forward, the Company will continue to seek to pay annual dividends in excess of 50% of its annual profits after tax subject to market and capital requirements. This total will be split between interim dividends (1/3) (generally to be paid in the month of November) and final dividends (2/3) (generally to be paid in the month of May).

Current trading

The FY 2023 financial year has progressed well, with performance in line with the Board's expectations. The Group expects to achieve revenue of between £280 million and £300 million, EBITDA between £95 million and £105 million and profit before tax between £61 million and 65 million.

The Group will announce a Trading Update in early June, ahead of the publication of its Interim Results for the six months ending 30 April 2023 which it intends to announce in July 2023.

Enquiries:

ME Group International plc	[phone] | ir@[e-mail]
Serge Crasnianski, CEO
Stéphane Gibon, CFO
Hudson Sandler	[phone] | [e-mail]
Wendy Baker/Nick Moore/ Ben Wilson

NOTES TO EDITORS

ME Group International plc (LSE: MEGP) operates, sells and services a wide range of instant-service vending equipment, primarily aimed at the consumer market.

The Group operates vending units across 19 countries and its technological innovation is focused on four principal areas:

· Photo.ME   - Photobooths and integrated biometric identification solutions

· Wash.ME   - Unattended laundry services and launderettes

· Print.ME  - High-quality digital printing kiosks

· Feed.ME  - Vending equipment for the food service market

In addition, the Group operates other vending equipment such as children's rides, amusement machines, and business service equipment.

Whilst the Group both sells and services this equipment, the majority of units are owned, operated and maintained by Me Group International plc. The Group pays the site owner a commission based on turnover, which varies depending on the country, location and the type of machine.

The Group has built long-term relationships with major site owners and its equipment is generally sited in prime locations in areas of high footfall such as supermarkets, shopping malls (indoors and outdoors), transport hubs, and administration buildings (City Halls, Police etc.). Equipment is maintained and serviced by an established network of 650 field engineers.

In August 2022 the Company changed its listed entity name to ME Group International plc (previously Photo-Me International plc) to better reflect the Group's diversification focus and business strategy.

The Company's shares have been listed on the London Stock Exchange since 1962.

For further information: www.me-group.com

 

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