Dividend Update and AGM Arrangements

RNS Number : 3994N

RBG Holdings PLC

20 May 2020

 

20 May 2020

RBG Holdings plc

(the "Group")

Dividend Update and 2020 AGM Arrangements

RBG Holdings plc (AIM: RBGP), the professional services group, which includes one of the UK's pioneering law firms, Rosenblatt Limited ("RBL"), today provides an update on its dividend and the arrangements for the 2020 Annual General Meeting ("AGM"). 

The Company also announces that it has today posted its annual report and notice of AGM to shareholders, which are also available on the Company's website at www.rbgholdings.co.uk/investor-relations/

Dividend Update

In line with the Group's dividend policy, the Board had intended to pay an interim dividend for the six months to 31 December 2019 of 3 pence per share. This payment would have followed the 2 pence per share paid for the first six months of that year.

Due to the uncertainty caused by COVID-19, the Board subsequently postponed the decision about whether to pay the dividend.  This was followed by a review of the Group's trading, regular stress tests on the Group's balance sheet, and a reduction of all non-essential costs.

After careful consideration and in order to maintain some financial flexibility, the Board has decided to pay an interim dividend for the six months to 31 December 2019 of 1 pence per share on 19 June 2020 to shareholders on the register as at 29 May 2020.  The total dividend for the year ending 31 December 2019 is therefore 3 pence per share.

Given the current levels of uncertainty, in common with many other businesses, the Board are not able to give the normal guidance on the trading results for the coming year.

2020 AGM Arrangements

In light of the COVID-19 outbreak, the Group has put in place the following arrangements for the AGM following the UK Government guidance on restricting public gatherings:

· The AGM will be held on 11 am on Thursday 18 June 2020 at the Group's offices, 9-13 St Andrew St, Holborn, London EC4A 3AF.

· In line with the Government guidance, shareholders must not attend the AGM in person and are strongly encouraged to vote by way of proxy.

· The AGM will be convened with the minimum necessary quorum of two shareholders, facilitated by the Company. All valid proxy votes (whether submitted electronically or in hard copy form) will be included in the poll to be taken at the meeting.

Shareholders are urged to register their proxy appointment electronically via the Company's Registrar's website. If shareholders prefer to return a hard copy Form of Proxy, they should do so in accordance with the instructions on the Form, which was distributed with the Notice of AGM. Shareholders are encouraged to appoint the chair of the meeting as their proxy to ensure that their vote is counted and to complete a proxy appointment as soon as possible, and in any event by 11 am on 16 June 2020. Where necessary, you should contact the registered shareholder (the custodian or broker) who looks after your investments in the Company on your behalf, in order to vote your shares.

The Board understands that beyond voting on the formal business of the meeting, the AGM also serves as a forum for shareholders to put questions to the Board. Therefore, shareholders are encouraged to submit questions ahead of the AGM by email to: [e-mail]. Questions and answers will be available on the Group's website following the conclusion of the AGM.

The Board would like to thank all shareholders for their continued support and understanding. The situation in relation to COVID-19 continues to develop.  If it becomes necessary or appropriate to revise the arrangements for the AGM, further announcements will be made.

Enquiries:

RBG Holdings plc Nicola Foulston, CEO	Via Newgate Communications
Stifel (Nominated Adviser and Joint Broker)	Tel: [phone]
Gareth Hunt Stewart Wallace (QE) Tom Marsh
N+1 Singer (Joint Broker) Shaun Dobson / Alex Bond (Corporate Finance) Tom Salvesen (Corporate Broking)	Tel: [phone]
Newgate Communications (for media enquiries) Robin Tozer/Tom Carnegie	Tel: [phone]; [e-mail]

Shareholders are also encouraged to sign up for free to the Investor Meet Company platform, which will be a tool the Group also uses for its investor communications in the future. Please use the following link to register: https://www.investormeetcompany.com/rbg-holdings-plc/register-investor?arc=ebb44286-adb9-43d6-aa25-da61d794c822

About RBG Holdings plc

RBG Holdings plc is a professional services group, which includes one of the UK's pioneering law firms, Rosenblatt Limited, which is a leader in dispute resolution.

Rosenblatt Limited provides a range of legal services to its diversified client base, which includes companies, banks, entrepreneurs and individuals. Complementing this is the Company's increasingly international footprint, advising on complex cross-jurisdictional matters. Rosenblatt Limited's practice areas include dispute resolution, financial crime, corporate, banking and finance, insolvency and financial restructuring, construction and projects, employment, financial services, IP/technology/media, real estate, regulatory and tax resolution. The Group also provides litigation finance in selected cases through a separate arm.

The Group also owns Convex Capital Limited, a specialist sell-side corporate finance boutique, based in Manchester, UK. Convex is entirely focussed on helping companies, particularly owner-managed and entrepreneurial businesses, realise their value through sales to large corporates. Convex identifies and proactively targets firms that it believes represent attractive acquisition opportunities.

 

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