Hill & Smith Regulatory News (HILS)

11 May 2007 07:30

Hill & Smith Hldgs PLC11 May 2007 AGM Statement At the Annual General Meeting of Hill & Smith Holdings PLC to be held latertoday the Chairman, David Winterbottom, will make the following statement toshareholders: "I am pleased to report that the current year has started well with tradingahead of budget. The markets we supply remain robust with healthy demand for ourproduct range which continues to benefit from our investment in development andacquisitions. Evidence of this is the substantial Highways Contract awarded toour Techspan Systems division (acquired in August 2005), and the IPG division'sinvolvement in the M1 widening contract with our temporary crash barrier"Varioguard". The integration of the Metnor Galvanising acquisition, made inNovember 2006, is proceeding according to plan and its performance is in linewith expectations. Zinkinvent (in which we have a 33.3% interest) has continued to trade stronglyin the first quarter of 2007 with the performance ahead of last year. The Class1 circular to approve the acquisition of a further 34.9% of Zinkinvent will bedistributed to shareholders in early June hence, if approved by shareholders atthe Extraordinary General Meeting, Hill & Smith Holdings PLC will control 68.2%of the share capital of Zinkinvent. Furthermore, it has been confirmed that theother shareholders in Zinkinvent will not be exercising any pre-emption rights. As previously announced, I am today retiring from the Board after almost 10years as your Chairman. I am delighted that David Grove has been appointedExecutive Chairman and that Derek Muir will be taking up the role of Group ChiefExecutive, both with effect from today. The Group is not only in good shape butalso in good hands, and I wish David and Derek continuing success in the future. The other change to the Board taking place today is the appointment of CliveSnowdon as a Non-Executive Director. I am sure he will have a valuablecontribution to make especially with his experience of overseas businesses.Clive is currently Group Chief Executive of Umeco plc. We will be reporting our interim results for the 6 months ended 30 June 2007 on3 September 2007." Further information: Hill & Smith Holdings PLCDavid Grove, Group Chief ExecutiveTel: 0121 704 7430Mobile: 07973 325667 Freshwater UKEdward Carter/Anna McNeil0121 633 7775 This information is provided by RNS The company news service from the London Stock Exchange