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Redde Plc (REDD)

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Wednesday 25 October, 2017

Redde Plc

AGM Statement

News Release

Issue Date: 25 October 2017

Redde plc

('Group’)

AGM Statement and Dividend

At today’s AGM, Avril Palmer-Baunack, chairman of Redde plc will be making the following statement regarding dividends and by way of an update on current trading of the business in respect of the period from 1 July to 24 October 2017. Unless otherwise stated, the financial and operational data, where identified, relates to the 3 month period that ended on 30 September 2017.

Dividends

Shareholders are being asked today to approve a final dividend of 5.60 pence per share, amounting to £17.0m which, if approved, will be paid on Thursday 2 November 2017 to those shareholders who were on the register at the close of business on Friday 6 October 2017. This dividend, if approved, will result in total Ordinary Dividends in respect of the year ended 30 June 2017 amounting to 10.60 pence per share totalling £32.2m in aggregate and will result in the payment of our twelfth consecutive dividend since June 2013. Payments since that date will amount to £105m representing 38p per share.

Current Trading

The positive start to the new financial year, which I described in my statement of 6 September 2017, has continued since that date. Sales show an increase over the corresponding period last year reflecting continued growth in trading volumes and, as a consequence, trading profits are ahead of the corresponding period last year. Early indications are that this trend has continued during October and the Board remains confident about the Group’s prospects for the financial year as a whole.

Enquiries
Redde plc Tel: 01225 321134
Martin Ward – Chief Executive Officer
Steve Oakley – Chief Financial Officer
Cenkos Securities plc (Nominated Adviser and Joint Broker) Tel: 0207 397 8900
Liz Bowman
N+1 Singer Capital Markets Limited (Joint Broker) Tel: 0207 496 3000
Mark Taylor
Square1 Consulting Tel: 0207 929 5599
David Bick

Notes for editors:

About Redde plc:

Founded in 1992 and working predominantly with insurance companies, insurance brokers, prestige motor dealerships, and large national fleet owners the Group provides a range of accident management, incident management and legal services.

The Group is one of the market leaders in its fields of business; it delivers accident management solutions to motorists ensuring that they remain mobile until their own vehicles are repaired or until they are put in a position to obtain a replacement and it provides legal services ensuring that they are properly compensated for their injuries and losses. Legal services also include wills and probate, family law and employment law advice.

The name Redde is associated, in Latin, with the concept of restoration.

**Ends**


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