Last checked at 22 Jul 2020 07:00
For immediate release | 22 July 2020 |
Anexo Group plc
('Anexo' or the 'Company')
AGM Trading Update
Notice of Interim Results
Director Appointment
Anexo Group plc (AIM: ANX), the specialist integrated credit hire and legal services provider, is pleased to provide the following Trading Update ahead of its Annual General Meeting, to be held at 11 a.m. today.
The Board is pleased to announce that overall trading continues to perform in line with management expectations. The Group intends to provide further details and to reinstate financial guidance to analysts and investors for the twelve months ended 31 December 2020 ('FY-2020') at the Interim Results, to be reported in August 2020.
With the gradual easing of restrictions related to Covid-19, many staff in the Group's Legal Services division, Bond Turner, have returned to office working while observing social distancing guidelines; other employees continue to successfully work remotely. The Bond Turner offices have remained accessible 24 hours a day during recent months and the division has remained fully operational at all times.
The Group continues to recruit high quality legal staff in line with its policy of expanding its headcount to drive increased case settlements and cash collection.
EDGE, the Group's Credit Hire division, has also remained fully operational throughout H1-2020. The majority of the Group's introducer garages have returned to normal working practices and any existing backlog of repair work is being cleared. Average vehicle hire numbers have returned to pre-Covid levels and fleet utilisation remains in line with historic norms. Overall vehicle numbers are being carefully managed in line with the Group's policy of controlling fleet growth and increasing cash collections.
The Board is delighted to announce that, as a result of this overall strategy, the Group was net cash generative throughout H1-2020.
Notice of Interim Results
The Group will announce its Interim Results for the six months ended 30 June 2020 on Thursday, 13 August 2020.
There will be a conference call for sell-side analysts at 09:30am on the day of results, which will be hosted by Alan Sellers (Executive Chairman) and Mark Bringloe (CFO). Please contact Buchanan at anexo@buchanan.uk.com if you would like to receive the dial in details.
For retail investors, an audio webcast of the conference call with analysts will be made available on the Group's investor relations website (www.anexo-group.com) after 12pm on the day of results. A link will be provided in the Interim Results statement.
Director Appointment
The Company is pleased to announce, with immediate effect, the appointment of Dawn O'Brien to the Board as Director, Bond Turner. Dawn originally embarked upon a career as a Barrister and was called to the Bar by Middle Temple. She joined Bond Turner in 2006 and was appointed CEO of Bond Turner in 2009. Following Dawn's appointment Joanne Allen will be appointed Company Secretary.
The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:
Full Name: Dawn Catherine Rooke, née O'Brien
Age: 36
Current directorships / partnerships | Directorships / partnerships within the last five years |
Bond Turner Limited | None |
Dawn O'Brien does not hold any Ordinary Shares in the Company.
There is no further information to be disclosed in relation to Dawn O'Brien's appointment pursuant to AIM Rule 17, paragraph (g) of Schedule Two of the AIM Rules for Companies.
- Ends -
For further enquiries:
Anexo Group plc | +44 (0) 151 227 3008 www.anexo-group.com |
Alan Sellers, Executive Chairman Mark Bringloe, Chief Financial Officer Nick Dashwood Brown, Head of Investor Relations | |
Arden Partners plc (Nominated Adviser and Joint Broker) |
|
John Llewellyn-Lloyd / Benjamin Cryer (Corporate) Fraser Marshall (Equity sales) | +44 (0) 20 7614 5900 www.arden-partners.co.uk |
Berenberg (Joint Broker) Mark Whitmore / Yudith Karunaratna
Buchanan (Financial Communications) |
+44 (0) 20 3207 7800 |
Henry Harrison-Topham / Hannah Ratcliff | +44 (0) 20 7466 5000 Anexo@buchanan.uk.com |
Notes to Editors:
Anexo is a specialist integrated credit hire and legal services provider. The Group has created a unique business model by combining a direct capture Credit Hire business with a wholly owned Legal Services firm. The integrated business targets the impecunious not at fault motorist, referring to those who do not have the financial means or access to a replacement vehicle.
Through its dedicated Credit Hire sales team and network of 1,100 plus active introducers around the UK, Anexo provides customers with an end-to-end service including the provision of Credit Hire vehicles, assistance with repair and recovery, and claims management services. The Group's Legal Services division, Bond Turner, provides the legal support to maximise the recovery of costs through settlement or court action as well as the processing of any associated personal injury claim.
The Group was admitted to trading on AIM in June 2018 with the ticker ANX.
For additional information please visit: www.anexo-group.com