Annual General Meeting

RNS Number : 2731M

Serco Group PLC

06 May 2015

 



Annual General Meeting

6 May 2015

Serco Group plc, the international service company, in accordance with its notice to shareholders, will be holding its Annual General Meeting (AGM) this afternoon.  The 2014 Full Year Results and the detailed outcome of the Strategy Review were announced on 12 March 2015.  On the same day, the Group's Annual Report and Accounts was published and a Rights Issue Prospectus was issued to shareholders.  At the subsequent General Meeting held on 30 March 2015, the ordinary resolution to authorise the allotment of shares in connection with the Rights Issue was duly passed.  The Rights Issue concluded on 17 April 2015, raising gross proceeds of approximately £555m.  On 30 April 2015, Serco completed its debt refinancing, with the terms of the amended financing agreements recognising the strengthening of the Group's balance sheet resulting from the Rights Issue.

The Group is trading in line with the expectations for 2015 that it set out at the time of reporting its 2014 Full Year Results.  The next update will be a pre-close statement at the end of June 2015, ahead of the release of the Half Year Results on Tuesday 11 August 2015.

The results of voting on the resolutions to be proposed at today's AGM will be announced to the London Stock Exchange and will appear on our website at www.serco.com/investors/agmshareholderinfo shortly after the conclusion of the AGM.

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For further information please contact Serco:

Stuart Ford, Head of Investor Relations T [phone]

Marcus De Ville, Head of Media Relations T [phone]

About Serco

Serco is an international service company, which combines commercial know-how with a deep public service ethos.

Around the world, we improve essential services by managing people, processes, technology and assets more effectively.  We advise policy makers, design innovative solutions, integrate systems and - most of all - deliver to the public.

Serco supports governments, agencies and companies who seek a trusted partner with a solid track record of providing assured service excellence.  Our people offer operational, management and consulting expertise in the aviation, BPO, defence, education, environmental services, facilities management, health, home affairs, information and communications technology, knowledge services, local government, science and nuclear, transport, welfare to work and the commercial sectors.

More information can be found at www.serco.com

Forward looking statements

This announcement contains forward looking statements.  The terms "expect", "anticipate", "may", "should", "will" and similar expressions identify forward looking statements.  By their nature, these forward looking statements are subject to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such statements.  Factors which may cause future outcomes to differ from those foreseen in forward looking statements include, but are not limited to: general economic conditions and business conditions in Serco's markets; contracts awarded to Serco; customers' acceptance of Serco's products and services; operational problems; the actions of competitors, trading partners, creditors, rating agencies and others; the success or otherwise of partnering; changes in laws and governmental regulations; regulatory or legal actions, including the types of enforcement action pursued and the nature of remedies sought or imposed; exchange rate fluctuations; the development and use of new technology; changes in public expectations and other changes to business conditions; wars and acts of terrorism; and cyber-attacks.  These forward looking statements speak only as of the date of this announcement.  Except as required by any applicable law or regulation, Serco expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained in this announcement to reflect any change in Serco's expectations or any change in events, conditions or circumstances on which any such statement is based.

 

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