Knights Group . Regulatory News (KGH)

Knights Group Holdings plc

("Knights", the "Company" or the "Group")

Annual General Meeting

Knights today holds its Annual General Meeting at 10:30am on 24 September 2024 at Riverside Court, Wilmslow, Cheshire, SK9 1DL.

At the AGM, the Group's Chairman, Dave Wilson, will make the following remarks:

"Knights delivered a good financial performance for the last financial year with underlying PBT1 growth of 17% against a challenging market backdrop. This performance reflected the strength of our diversified service offering, and continued execution against our strategy, and built on our strong track record of profitable growth."

"Our unique culture continues to be a differentiator for us in the UK legal market and a key driver of our momentum in attracting new talent, through both recruitment and acquisition. This underpins the Board's confidence in the current year."

Further details can be found on Knights' website: https://www.knightsplc.com/investors

Footnotes

1 Underlying PBT is before amortisation of acquired intangibles, non-underlying operating expenses, and non-underlying finance costs. Non-underlying operating expenses include transaction and onerous lease expenses in relation to acquisitions, contingent acquisition payments, disposal of acquired assets, along with one-off restructuring staff and professional expenses, mainly incurred on acquisitions, through streamlining support functions or strategic reorganisations.

Contingent acquisition payments are treated as a non-underlying expense as this represents payments for acquisitions which are dependent on the continued employment of certain individuals in the business for an agreed contractual period after an acquisition of one to three years to preserve the acquired goodwill and customer relationships. Accounting standards require such arrangements to be treated as remuneration in the Statement of Comprehensive Income. However, the individuals also receive market rate salaries, therefore, if not separately identified, these payments would significantly distort the reported results. 

Ends

Notes to Editors

Knights is a fast-growing legal and professional services business, ranked within the UK's top 50 largest law firms by revenue. Knights was one of the first law firms in the UK to move from the traditional partnership model to a corporate structure in 2012 and has since grown rapidly. Knights has specialists in all key areas of Corporate and Commercial law and Private Wealth services. It is focussed on key UK markets outside London and currently operates from 26 offices located in Birmingham, Brighton, Bristol, Carlisle, Cheltenham, Chester, Exeter, Kidderminster, Kings Hill, Leeds, Leicester, Lincoln, Manchester, Newbury, Newcastle, Nottingham, Oxford, Portsmouth, Sheffield, Solihull, Stoke, Teesside, Weybridge, Wilmslow, Worcester and York.