ACE.L Regulatory News (ACE)

7 Mar 2005 11:07

Accident Exchange Group PLC07 March 2005 7 March 2005 Accident Exchange Group plc EGM Statement Accident Exchange Group plc, the leading prestige credit hire vehiclereplacement company, is pleased to announce that all the resolutions at theCompany's EGM held at 10:00 a.m. this morning, relating to the adoption ofemployee incentive arrangements were duly passed. Steve Evans, Chief Executive of Accident Exchange Group plc said: "I am pleased we now have a first class mechanism for attracting and retainingthe best employees in the sector." Ends For further information, call:Stuart Skinner, Numis Securities Limited020 7776 1500 Jonathon Brill/Billy Clegg, Financial Dynamics020 7813 3113 Notes to editors About Accident Exchange Accident Exchange was formed in 2001 to provide ABI (Association of BritishInsurers) approved car hire on credit to motorists of prestige cars involved innon-fault accidents. Having listed on AIM in April 2004, the Company has grown its car rental fleetrapidly from 250 to over 700 units. The Company reported maiden interim resultsfor the period ended 31 October 2004. Turnover increased significantly to £7.670million (2003: £1.136 million), profit before taxation was up to £2.133 million(2003: £0.303 million), profit before taxation and goodwill amortisation was upto £2.461 million (2003: £0.303 million), with earnings per share up to 2.3p(2003: 0.4p). The Company recommended its first interim dividend of 0.5p (2003:nil). This information is provided by RNS The company news service from the London Stock Exchange