Last checked at 5 Nov 2019 10:00
5 November 2019
SOFTCAT plc
("Softcat", the "Company")
Annual Financial Report
and
Notice of Annual General Meeting
Following the release on 23 October 2019 of the Company's preliminary results for the year ended 31 July 2019, the Company announces that it has published its 2019 Annual Report and Accounts.
The Company also announces that its 2019 Annual General Meeting will be held at 11.30 a.m. on 5 December 2019 at Solar House, Fieldhouse Lane, Marlow, Buckinghamshire, SL7 1LW, United Kingdom.
A copy of the Annual Report and Accounts and Notice of AGM are available to view on the Company's website at https://www.softcat.com/investors/. Hard copies have been mailed to those shareholders who have elected to continue to receive paper communications.
In accordance with Listing Rule 9.6.1, the below documents will be submitted to the UK Listing Authority via a National Storage Mechanism and will shortly be available to the public for inspection at www.morningstar.co.uk/uk/NSM.
2019 Annual Reports and Accounts
Notice of 2019 Annual General Meeting
A condensed set of the Company's financial statements and information on important events that have occurred during the financial year and their impact on the financial statements, were included in the preliminary results announcement released on 23 October 2019. That information, together with the information set out below, which is extracted from the 2019 Annual Report and Accounts, is provided in accordance with the Disclosure and Transparency Rule 6.3.5 which is required to be communicated to the media in full unedited text through a Regulatory Information Service. This information should be read in conjunction with the Company's preliminary results announcement. This announcement is not a substitute for reading the full 2019 Annual Report and Accounts. Any page or note references in the text below refer to page numbers and note numbers in the 2019 Annual Report and Accounts.
Related party relationships and transactions
Transactions with key management personnel
The remuneration of key management personnel, which consists of persons who have been deemed to be discharging managerial responsibilities, is set out below in aggregate for each of the categories specified in IAS 24 Related Party Disclosures.
2019 | 2018 | |
£'000 | £'000
| |
Short-term employee benefits | 2,312 | 2,013 |
Post-employment benefits | 27 | 12 |
2,339 | 2,025 |
Key management personnel received a total of 165,762 share awards (2018: 226,815) at a weighted average exercise price of £Nil (2018: £Nil).
The amounts disclosed in the table are the amounts recognised as an expense during the reporting period related to key management personnel.
Share-based payment charges include £878,608 (2018: £1,252,616) in respect of key management personnel.
Dividends to Directors
2019 | 2018 | |
£'000 | £'000 | |
M Hellawell | 2,623 | 3,326 |
G Charlton | 3 | - |
B Wallace1 | - | 198 |
V Murria | 84 | 67 |
L Ginsberg1 | 6 | 5 |
P Ventress | 13 | 11 |
2,729 | 3,607 |
Note:
1. Brian Wallace and Lee Ginsberg resigned from the Board on 31 March 2018 and 30 June 2019 respectively. Amounts shown above relate to the time until each Director resigned.
For further information, please contact:
Softcat
Luke Thomas Tel: +44 (0)1628 403 403
Company Secretary
Media Enquiries - FTI Consulting LLP Tel: +44 (0)20 3727 1000
Ed Bridges / Matt Dixon / Dwight Burden