CPS.L Regulatory News (CPS)

22 October 2018

Cpl Resources Plc

Board Appointment and Trading Update

Cpl Resources plc ('Cpl' or the 'Group'), Ireland's leading provider of talent solutions and talent advisory services, held its Annual General Meeting ('AGM') in Dublin this afternoon, issued a trading update and announced the appointment of a new independent Director to the Board.

Board Appointment

The Group is pleased to announce the appointment of Elaine Coughlan, to the Board of Directors, effective 23 October 2018. Elaine is a co-Founder and Managing Partner of Atlantic Bridge Capital a Global Growth Equity Technology Fund. She is a Fellow of the Institute of Chartered Accountants and a qualified Chartered Director.

Trading Update

At the AGM, Chairman Mr John Hennessy made the following statement:

"On 11 September 2018 we announced our results for the year ended 30 June 2018. The Group reported record revenues in excess of €522 million and double-digit growth across all key metrics. The Group reported a strong balance sheet position, closing the year with net assets of €92.5 million and a net cash balance of €24.2 million, demonstrating the profitable and cash generative nature of our business.

At our AGM today, our shareholders approved a final dividend of 7.15 cent per share, bringing the total dividend for the year to 13.5 cent per share, an increase of 17%.

The Group has had a good start to the new financial year. Our Flexible Talent division continues to grow at pace, as our business model evolves to meet shifting workforce preferences and a strengthening demand for more flexible talent solutions. Our Permanent division is performing in line with expectations. Overall economic indicators today remain positive and we expect to perform slightly ahead of current market expectations in the months ahead.

We continue to pursue organic growth and explore potential strategic partnerships and acquisitions in our key sectors and markets.

The effects of Brexit still remain unclear and our position remains that it will present both challenges and opportunities for Cpl.

We would also like to announce the appointment of Elaine Coughlan as an independent non-executive director to the Board, effective 23 October 2018. Elaine is a founder of Atlantic Bridge, a global growth technology fund and is a non-executive director of the Board of Enterprise Ireland. Elaine has over twenty years operational and M&A experience as an entrepreneur and executive in scaling Irish technology companies. We are delighted to welcome her to the Board".

-End-

For Further Information:

Anne Heraty, CEO, Cpl Resources Plc: +353 1 614 6000

Mark Buckley, Deputy CEO & COO, Cpl Resources Plc: +353 1 614 6000

Lorna Conn, CFO, Cpl Resources Plc: +353 1 614 6000

Ivan Murphy/ Daragh O'Reilly, Davy Corporate Finance: +353 1 679 6363

Melanie Farrell/ Jonathan Neilan, FTI Consulting: +353 1 765 0888

Additional Information:

Ms Elaine Coughlan (47) holds no shares in Cpl Resources plc, and, other than as set out below, there is no further information to be disclosed under schedule 2(g) and Rule 17 of the AIM and ESM Rules in respect of Ms Coughlan's appointment as a Non-Executive Director.

Elaine Coughlan is, or has been, a director of the following companies during the previous five years: