Last checked at 28 Sep 2017 16:21
28 September 2017
Fiske Plc
('Fiske' or 'the Company')
Result of AGM
Fiske Plc (the 'Company') announces that at the AGM held today all the resolutions were duly passed.
Speaking at the AGM, Clive Harrison, the Company's Executive Chairman, said the following:
We have made a promising start to the current year and we have traded profitably in the first quarter although we will bear some exceptional acquisition costs in the second quarter. The principal event of the past two months is the completion of the acquisition of Fielding Investment Management and their team joining us here. We regard this transaction as very favourable for all those concerned and we will be working hard over the next months to integrate the two teams and to get the benefits of us working together. We welcome all the Fielding's personnel.
Stock markets worldwide, but especially Wall Street and London, remain buoyant in spite of considerable political and economic uncertainties. The major danger is unquestionably the threat to world peace provided by the unstable regime in North Korea coupled with its significant and growing military power. Brexit will probably be an adverse economic event but on a minor scale and already priced in to the market. The scare stories which dominate the media are about as well founded as the prophesies of gloom from Cameron and Osborne in the lead up to the Referendum, which proved to be hot air and luckily led to their enforced absence from political power.
From an economic point of view Central Bank's monetary policy is the decisive factor and major influence on markets. The bond markets, especially Government bond markets, are in bubble territory and very vulnerable to the certain and imminent rise in interest rates. This scenario coupled with the end of quantitative easing will affect asset values but to quite an extent this is already in the market but to how great an extent is the big unknown.
We continue to take a cautious view.
For further information please contact:
• Gerard Luchini, Fiske Plc - Compliance Officer
(tel: 020 7448 4700)
• Salmaan Khawaja/Richard Tonthat/Harrison Clarke, Grant Thornton UK LLP (Nominated Adviser)
(tel: 020 7383 5100)