Last checked at 31 May 2011 07:00
For Immediate Release 31 May 2011
Norman Broadbent Plc
("Norman Broadbent" or the "Company")
AGM Statement
At the Annual General Meeting of Norman Broadbent plc to be held at noon today, Pierce Casey, Chairman, will make the following statement:
"On 28 April 2011 I outlined our strategy, as approved by our board, in my Chairman's Statement in the 2010 Annual Report.
In the month since I am pleased to report that good progress has been made as our business structure attracts highly talented executives and new business partners.
We are establishing a dedicated 'Board and Non-executive Practice' under Krystyna Nowak and Neil Holmes, who are joining us in August 2011 from Hanson Green Limited.
In our core executive search business a number of senior executives within the consumer and financial services sectors have agreed to join us over the coming months. They are leaving senior positions within our larger rivals because they want to be part of the new Norman Broadbent.
In December 2010, we acquired HADIL, a small board assessment business. We are pleased to announce that Josh Lewsey, MBE has agreed to join HADIL as a non-executive director, and following the planned retirement of its founder we will be appointing a new managing director shortly.
We have formed a new partnership with Alium Partners Limited, the leading senior executive/board interim business to offer our clients an enhanced senior interim offering.
We have initiated discussions on further overseas expansion and I am pleased to note the strong brand awareness of Norman Broadbent.
I reported in my Chairman's Statement that accompanied the 2010 Annual Report that first quarter trading was satisfactory and I can now report that April 2011 revenues were on budget.
The proposed share placing of £1.75m, approval for which is being sought at today's AGM, is intended to provide the Company with the appropriate capital base to initiate substantial growth at home and abroad over the next three years, albeit starting from a modest base".
Contacts:
Norman Broadbent plc
Pierce Casey/Ben Felton 020 74840000
Merchant Securities Limited
John East/Simon Clements 020 7628 2200
Buchanan Communications Limited
Tim Anderson/Isabel Podda 020 7466 5000