ASLR.L Regulatory News (ASLR)

29 Mar 2005 13:13

Pentagon Protection PLC29 March 2005 For Release 29th March 2005 Pentagon Protection Plc ("Pentagon" or "the Company") AGM Statement At their AGM, at 11am today in London, the Directors of Pentagon Protection PLC, the provider of protective glazing products to the commercial and automotive sectors, confirmed their confidence that the Company will meet market expectations for the financial year 2004/5. This is despite greater than expected losses generated in the first half of the year, stemming primarily from one cancelled and one delayed commercial building order. The Board's confidence in meeting full year expectations is underpinned by therecent securing of a contract in Vienna valued at £650,000, current work inprogress exceeding £1m, and outstanding tenders extended to the value ofapproximately £3m. In addition to ongoing operations the Board has recently undertaken to review arestructuring of under-performing divisions and explore possible acquisitionsthat would complement the Company's competitiveness in the internationalcommercial building sector. The results of this review will be implementedcommencing the second half of the current fiscal year. Speaking at the AGM Graham Bannerman, Chief Executive of Pentagon, commented "Asa result of our first six months trading we have a clearer picture of thestrengths and opportunities in our business and are taking active steps toensure by the end of the current financial year the Company will be stronger,fitter and globally more competitive". All resolutions were duly passed. For further information please contact: Pentagon Protection plc Graham Bannerman (Chief Executive) Tel 020 8749 9749 Mob. 07976 20 2020 Binns & Co PR Ltd. Ben Knowles (Assoc. Director) Tel 020 7153 1487 Mob. 07900 346 978 This information is provided by RNS The company news service from the London Stock Exchange