Savills PLC
10 May 2006
10 May 2006
AGM STATEMENT
At today's Annual General Meeting of Savills plc, the international property
adviser, Chairman, Peter Smith said:
'Since the announcement of the results made at the beginning of March, the Group
has, overall, performed in line with our expectations and ahead of the same
period last year.
Our UK Commercial property business made a good start to the year with
investment markets remaining buoyant. Prime residential markets are strong with
particularly high levels of sales in London. Transactional markets in Asia
Pacific and Europe had a slower start to the year but remain active and our
presence in Korea is developing well. Our Consultancy and Property Management
businesses continue to grow and Financial Services has performed well. The
Board currently remains confident that the full year will produce a satisfactory
outturn.'
A separate regulatory announcement outlining the special business passed at the
Annual General Meeting will be made. Of note was the passing by shareholders of
the resolution that the existing ordinary share capital of the company be split.
Each existing 5 pence ordinary share will be divided into two new ordinary
shares of 21/2 pence each.
The share split will become effective on admission of the New Ordinary Shares to
the Official List, which is expected to be at 8.00 am tomorrow (11 May 2006). As
outlined to shareholders, it is expected that each New Ordinary Share will be
approximately one half of the market price of an existing ordinary share
(subject of course to market movement). This reflects the fact that shareholders
will own twice as many ordinary shares in the Company.
ENDS
For further information, please contact:
Savills plc (020 7409 9923)
Aubrey Adams
Citigate Dewe Rogerson (0207 638 9571)
Simon Rigby
Sarah Gestetner
Notes to editors:
Savills plc is a leading international property services company with a full
listing on the London Stock Exchange. The company has undergone dynamic growth
in recent years establishing itself as a powerful player on the international
stage with offices and associates throughout the UK, Europe, Asia Pacific and
Africa. In addition, Savills' strategic alliance with top US full service real
estate advisory company, Trammell Crow Company, in North America, means that
clients have access to a network of offices in the US and Canada. Savills is the
trading name for the property service subsidiaries of Savills plc which advise
on commercial, rural, residential and leisure properties. Other services
include corporate finance advice, fund management and a range of property
related financial services.
This information is provided by RNS
The company news service from the London Stock Exchange
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