Stadium Group PLC Regulatory News (SDM)

Stadium Group Plc

AGM Statement

Stadium Group Plc (AIM: SDM), a leading provider of electronic manufacturing services and power supply solutions, will hold its Annual General Meeting today at 11am at Brewin Dolphin's offices at 12 Smithfield Street, London EC1A 4BD. At the meeting Stadium will provide shareholders with the following trading update.

We have achieved a number of new business wins during the period, which should deliver significant growth during the second half of the year and consequently performance will be more weighted towards the second half than in prior years. Consequently, the Company is confident of delivering a result for the year in line with current market expectations.

Earlier this month we announced the completion of the sale of the surplus freehold property at Chingford, which generated gross cash proceeds of £2.6m and the cash will be used to invest in the business after utilising approximately £1m to reduce our pension obligations. In addition, following the successful completion of the consultation exercise, the final salary pension scheme has now been closed to future accrual.

Nigel Rogers steps down as Chief Executive today having completed ten years in the role. Nigel's period in office has seen the Company transformed into an electronics company which is focused on high growth markets. We would like to express our appreciation and gratitude for Nigel's efforts and to wish him every success in his future career. The search for a replacement Chief Executive is now well underway and we look forward to updating shareholders on our progress in due course.

Overall the Board is confident in Stadium's future prospects and we approach the remainder of the year with optimism.

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