AGM Statement

Trifast PLC

10 September 2024

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Tuesday, 10 September 2024

Trifast plc

(Trifast, TR or the Company)

 A leading international specialist in the design, engineering, manufacture, and distribution of high-quality industrial fastenings and Category 'C' components principally to major global assembly industries

AGM Statement

 

Trifast will hold its Annual General Meeting today at 12.30pm at the Company's National Distribution Centre, Reedswood Park Road, Walsall.

At the meeting, Serena Lang, the Company's Non-Executive Chair, will make the following statement:-

"We are pleased to report that Trading in the first four months of the current financial year has been in line with the Board's expectations.

"Our objectives of delivering margin improvement year on year, together with enhanced cash generation through working capital improvements are also on track. Whilst economic and geopolitical challenges remain, we are committed to the execution of our four key strategic initiatives of margin management, focused growth, organisational effectiveness, and operational efficiency that will enable us to maintain positive momentum as we look to make progress on our Recover, Rebuild, Resilience journey.

"As a Board, we are driven by the need to deliver against mid-term strategic growth drivers and the significant opportunity that exists to return performance to historic levels whilst rebuilding our employee value proposition. Trifast has a proud heritage and is fortunate to be able to call on a number of talented teams as it looks to the next chapter of its growth and success story.

"The Group expects to release results for the six-month period ending 30 September 2024 in November 2024."

Dividend Re-investment Plan

The Company will be introducing the option for shareholders to invest their future dividend in a Dividend Re-investment Plan ("DRIP"). Shareholders will have the option to elect for their cash dividend payment to be automatically re-invested through the purchase of additional ordinary shares in the Company. Shareholders wishing to receive their dividends via the DRIP should complete the online DRIP election form, which can be accessed at www.investorcentre.co.uk, or if a CREST Member, shareholders can submit their election using the CREST system before 20 September 2024. The DRIP document mailing date to shareholders will be 21 October 2024.

Participation in the DRIP is optional and will not affect shareholders' cash dividends unless they elect to participate in the DRIP.

Note:

Prior to this announcement consensus market forecasts are: revenue £238.5m and adjusted EBIT £15.0m Trifast plc | Equity research (trfastenings.com)

Further enquiries please contact:
Trifast plc
Iain Percival, CEO Kate Ferguson, CFO Christopher Morgan, Company Secretary	Tel: [phone] Email: [e-mail] Shareholders: [e-mail]
Peel Hunt LLP (Stockbroker & financial adviser)
Mike Bell	Tel: [phone]
TooleyStreet Communications, (IR & media relations)
Fiona Tooley	Tel: [phone] Email: [e-mail]

About Trifast plc (LSE Main listing: symbol: TRI)

Founded in 1973, Trifast is a leading international specialist in the design, engineering, manufacture, and distribution of high-quality industrial fastenings and Category 'C' components principally to major global assembly industries. As an international business we can provide customer support from across key regions in the UK & Ireland, Asia, Europe, and North America. In addition to our service locations, we operate several manufacturing facilities focused on high volume cold forged fasteners and special parts. We have also established Engineering & innovation centres to support R&D and customer collaboration across the world. The Group supplies to customers in c.70 countries across a wide range of industries, including light vehicle, heavy vehicle, health & home, energy, tech, & infrastructure (ET&I), general industrial and distributors. As a full-service provider to multinational OEMs and Tier 1 companies spanning several sectors, we deliver comprehensive support to our customers across every requirement, from concept design through to technical engineering consultancy, manufacturing, supply management and global logistics.

We have defined a clear purpose and vision:

To sustainably drive our customers' success by simplifying their fastener supply chain and supporting them in their technical requirements through our world-class engineering and manufacturing capabilities.

For more information, visit:

TRIFAST PLC TRI Stock | London Stock Exchange

website: www.trifast.com

LinkedIn: www.linkedin.com/company/tr-fastenings

X: www.x.com/trfastenings

Facebook: www.facebook.com/trfastenings

Note: Trifast, TR and TR Fastenings are registered trademarks of the Company. LEI number: 213800WFIVE6RWK3CR22

 

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