TIDMFAN
RNS Number : 3514E
Volution Group plc
03 November 2015
Tuesday 3 November 2015
Volution Group plc
Annual Report and Accounts 2015 and Notice of Annual General
Meeting
Volution Group plc ("Volution" or the "Company", LSE: FAN), a
leading supplier of ventilation products to the residential and
commercial construction market, announces that following the
release by Volution on 16 October 2015 of the Company's Preliminary
Results Announcement for the year ended 31 July 2015, it has today
posted and made available to shareholders on its website,
http://www.volutiongroupplc.com/ the documents listed below:
-- Annual Report and Accounts 2015
-- Notice of Annual General Meeting 2015
-- Form of Proxy for the Annual General Meeting 2015
Copies of these documents are also being submitted to the
National Storage Mechanism and will shortly be available for
inspection at: http://www.hemscott.com/nsm.do
The Company's Annual General Meeting will be held at 11.00am on
15 December 2015 at the offices of Norton Rose Fulbright LLP, 3
More London Riverside, London SE1 2AQ.
A condensed set of financial statements and information on
important events that have occurred during the year ended 31 July
2015 and their impact on the financial statements, were included in
the Company's Preliminary Results Announcement made on 16 October
2015, which is available on the Company's website referred to
above. That information together with the information set out below
in the appendices to this announcement (which is extracted from the
Annual Report and Accounts 2015), constitute the material required
by Disclosure & Transparency Rule 6.3.5(2)(b) which is required
to be communicated to the media in full unedited text through a
Regulatory Information Service. This announcement is not a
substitute for reading the full Annual Report and Accounts
2015.
- ends -
Enquiries:
Volution Group plc
Michael Anscombe, Company Secretary +44 (0) 1293 441662
Note to Editors
Volution Group plc (LSE: FAN) is a leading supplier of
ventilation products to the residential and commercial construction
market in the UK and northern Europe.
The Group sold approximately 21 million ventilation products and
accessories in the twelve months ended 31 July 2015. The Volution
Group operates through two divisions: the Ventilation Group and the
OEM (Torin-Sifan) division. The Ventilation Group consists of 7 key
brands - Vent-Axia, Manrose, Fresh, PAX, inVENTer, Brüggemann and
Ventilair focused primarily on the UK, Nordic, German and Benelux
ventilation markets. The Ventilation Group principally supplies
ventilation products for residential and commercial ventilation
applications. The OEM division (Torin-Sifan), supplies motors, fans
and blowers to OEMs of heating and ventilation products for both
residential and commercial construction applications in Europe.
For more information, please go to:
http://www.volutiongroupplc.com/
Appendices
Appendix A: Directors' Responsibility Statement
The following Directors' Responsibility Statement is extracted
from page 72 of the Annual Report and Accounts 2015 and is repeated
in this announcement solely for the purpose of complying with DTR
6.3.5 (2) (b). The statement relates to the full Annual Report and
Accounts 2015 and not the extracted information contained in this
announcement:
The Directors are responsible for preparing the Annual Report
and the Group and parent company financial statements in accordance
with applicable law and regulations.
Company law requires the Directors to prepare Group and parent
company financial statements for each financial year. Under that
law they are required to prepare the Group financial statements in
accordance with IFRS as adopted by the EU and applicable law and
have elected to prepare the parent company financial statements in
accordance with IFRS as adopted by the EU.
Under company law the Directors must not approve the financial
statements unless they are satisfied that they give a true and fair
view of the state of affairs of the Group and parent company and of
their profit or loss for that period. In preparing each of the
Group and parent company financial statements, the Directors are
required to:
-- select suitable accounting policies and then
apply them consistently;
-- make judgements and estimates that are reasonable
and prudent;
-- state whether the Group and parent company
financial statements have been prepared in
accordance with IFRS as adopted by the EU;
and
-- prepare the financial statements on the going
concern basis unless it is inappropriate to
presume that the Group and the parent company
will continue in business.
The Directors are responsible for keeping adequate accounting
records that are sufficient to show and explain the parent
company's transactions and disclose with reasonable accuracy at any
time the financial position of the parent company and enable them
to ensure that its financial statements comply with the Companies
Act 2006. They have general responsibility for taking such steps as
are reasonably open to them to safeguard the assets of the Group
and to prevent and detect fraud and other irregularities.
Under applicable law and regulations, the Directors are also
responsible for preparing a strategic report, directors' report,
directors' remuneration report and corporate governance statement
that complies with that law and those regulations.
The Directors are responsible for the maintenance and integrity
of the corporate and financial information included on the
Company's website. Legislation in the UK governing the preparation
and dissemination of financial statements may differ from
legislation in other jurisdictions.
We confirm that to the best of our knowledge:
--the financial statements, prepared in accordance with the
applicable set of accounting standards, give a true and fair view
of the assets, liabilities, financial position and loss of the
Group and the undertakings included in the consolidation taken as a
whole; and
--the Strategic Report and the Directors' Report include a fair
review of the development and performance of the business and the
position of the issuer and the undertakings included in the
consolidation taken as a whole, together with a description of the
principal risks and uncertainties that they face; and
--the Annual Report, taken as a whole, is fair, balanced and
understandable and provides the information necessary for
shareholders to assess the Company's performance, business model
and strategy.
By order of the Board
Ronnie George
Chief Executive Officer
16 October 2015
Ian Dew
Chief Financial Officer
16 October 2015
Appendix B: Principal Risks and Uncertainties
The following is extracted from pages 24 to 27 of the Annual
Report and Accounts 2015 and is repeated in this announcement
solely for the purpose of complying with DTR 6.3.5 (2) (b). The
information relates to the full Annual Report and Accounts 2015 and
not the extracted information contained in this announcement:
The Group believes that the table below outlines the principal
risks and uncertainties that our business faces. Occurrence of any
of these risks may significantly impact the business or impair the
achievement of our strategic goals.
Risk Impact Strategic Likelihood Potential Change Mitigation
consequence impact
------------------- ------------------ ------------------- ----------- ---------- ----------- ------------------
Economic Demand for Our ability Possible High Stable Geographic
risk. our products to achieve spread from
serving our ambition our international
A decline the residential for continuing acquisition
in general and commercial organic strategy helps
economic RMI and growth to mitigate
activity new-build would the impact
and/or markets be adversely of local
a specific would decline. affected. fluctuations
decline This would in economic
in activity result in activity.
in the a reduction
construction in revenue New product
industry. and development,
profitability. the breadth
of our product
portfolio
and the strength
and
specialisation
of our sales
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