AGM Statement

  
API Group plc

AGM Statement

API Group plc (AIM:API), a leading manufacturer of specialist foils and packaging materials, will be holding its Annual General Meeting today at 10.00 a.m. at the Royal Thames Yacht Club, 60 Knightsbridge, London SW1.

At the Annual General Meeting, Richard Wright, Chairman of API Group, will provide the following trading update:  

"The Group has traded strongly in the first quarter and at this stage is on track to meet the Board's expectations for the financial year.    

Performance at API Laminates has been especially positive, despite a delay in the shipments for the new supply contract, which is still progressing through customer qualification. The new lamination machine installed at Laminates' Poynton manufacturing site is operating effectively. Bulk deliveries from this agreement are now expected to begin early in the second half of the financial year.  

The foils businesses, especially Foils Americas, are continuing to benefit from lower material and operating costs. As anticipated, results at Holographics are being impacted by reduced inter-company sales after the end of a large joint project with Laminates.

Further to the Group's announcement of 30 March 2012, the Board still expects to make a decision on the commencement of a sale process during the current quarter."  

- Ends -

For further information:

API Group plc
Andrew Turner, Group Chief Executive	Tel: [phone]
Chris Smith, Group Finance Director	www.apigroup.com

Numis Securities (Broker)
James Serjeant	Tel: [phone]
	www.numis.com

Cairn Financial Advisers (Nominated Adviser)
Tony Rawlinson / Avi Robinson	Tel: [phone]
	www.cairnfin.com
Altium (Financial Adviser)
Paul Lines/Simon Lord	Tel: [phone]
	www.altiumcapital.com

Media enquiries:

Abchurch
Julian Bosdet / Quincy Allan	Tel: [phone]
[e-mail]	www.abchurch-group.com

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Source: API Group PLC via Thomson Reuters ONE

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