Trifast PLC Statement to shareholders - AGM & Dividend (3126M)
July 27 2017 - 6:15AM
UK Regulatory
TIDMTRI
RNS Number : 3126M
Trifast PLC
27 July 2017
"HOLDING THE WORLD TOGETHER"
Trifast plc
('Trifast', the 'Group' 'TR' or 'Company')
Leading international specialists in the engineering,
manufacturing and distribution
of high quality, industrial fastenings to major global assembly
industries
-- STATEMENT TO SHAREHOLDERS
-- RESULT ANNUAL GENERAL MEETING
-- DIVIDEND
ANNUAL GENERAL MEETING (Meeting)
At today's Meeting (12noon 27 July 2017), Chairman, Malcolm
Diamond MBE made the following summary statement on behalf of the
Board to shareholders present:
"As a Company, we were delighted once again to report an
excellent 2016/17 performance which saw record breaking results
and, following approval of the final dividend today, it is
gratifying to share this success and reward our shareholders. Over
the last six years dividends paid have grown from 0.50p to 3.50p,
equating to a compound annual growth rate ('CAGR') of 47.6%.
"Looking ahead and to the current financial year; Trifast
entered the year strongly with a robust pipeline in place. The
capital and strategic investments already made and being planned in
plant, people and logistics will see the Group remain in a good
position to achieve further growth and to support our core
objective of widening our multinational OEMs portfolio across the
Group. With nearly four months trading under our belt, the Board is
pleased to report that TR's underlying business continues to
perform well and in line with management expectations."
"As we have stated before, geographically Europe, Asia and the
USA all remain key focus areas for us, both organically and
non-organically. To complement our strong underlying growth plans,
further acquisitions remain an important strategic growth pillar
for the Group. Our acquisition strategy has been developed to
identify key criteria and geographies and we will continue to use
this to drive our proactive search for the next successful
acquisition."
"As highlighted in our Annual Report, there will always be some
macroeconomic factors we cannot fully mitigate, including movements
in foreign currency and the ongoing volatility in the raw materials
markets. However, given the Group's geographical diversity, our
balanced sector mix and our clear strategies for growth, we remain
confident about the Group's prospects."
The Group's next Trading Update will be in mid-October ahead of
the Half-year Results for the period ending 30 September 2017 which
are due for release in November.
RESULT OF ANNUAL GENERAL MEETING (Meeting)
All resolutions put to Members at today's Meeting were duly
passed on a show of hands. The resolution proxy votes will be
provided on the Group's website, www.trifast.com, shortly and
details can also be made available on request to the Company
Secretary. In accordance with Listing Rule 9.6.2R, a copy of the
resolutions passed as Special Business at the AGM will be submitted
to the National Storage Mechanism and available for inspection at
www.morningstar.co.uk/uk/nsm.
DIVIDEND
With our proven track record, a strong balance sheet and a
confident strategy for growth, we remain committed to a progressive
dividend policy. Shareholders today approved the payment of a final
dividend of 2.50p per share which will be paid on 13 October 2017
to Members on the Register at the close of business on 15 September
2017. The ordinary shares will become ex-dividend on 14 September
2017. The total dividend for the year is 25% up on the prior year
(2016: 2.80p).
Enquiries please contact:
Trifast plc
Lyndsey Case, Company Secretary
Tel: +44 (0) 1825 747630
Email: corporate.enquiries@trifast.com
Peel Hunt LLP
Stockbroker & financial adviser
Justin Jones or Mike Bell
Tel: +44 (0)20 7418 8900
TooleyStreet Communications
IR & media relations
Fiona Tooley
Tel : +44 (0)7785 703523
Email : fiona@tooleystreet.com
EDITOR'S NOTE
TRIFAST PLC
LSE Premium Listing: Ticker: TRI
About us: Trifast is a leading international specialist in the
engineering, manufacturing and distribution of high quality
industrial fastenings to major global assembly industries. We are a
24/7 'full service provider' offering 'end-to-end' support to all
our customers. Our success and ongoing growth is based on a unique
mix of high quality manufacturing, sourcing know-how and adaptable,
reliable global logistics. Key sectors are automotive, domestic
appliances, electronics and distributors. The Group employs c.1,200
staff across 27 global locations across the UK, Europe, Asia and
the USA.
For more information, please visit
Group website: www.trifast.com
LinkedIn: www.linkedin.com/company/tr-fastenings
Twitter: www.twitter.com/trfastenings
Facebook: www.facebook.com/trfastenings
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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