Result of AGM

12 Jun 2007 11:46

SMC Group Plc12 June 2007 SMC Group Plc ("SMC or the Company") Result of Annual General Meeting SMC announces that at today's Annual General Meeting of the Company all of theresolutions, save for Resolution numbered 5 in relation to the declaration ofthe final dividend, were duly passed. Further to the Company's announcements of 25 May 2007 and 31 May 2007, the Boardof SMC believed it was prudent to withdraw the resolution regarding the proposedthe final dividend and not to propose the resolution to the meeting. Executive Chairman, Sir Rodney Walker, said: "The Board believes that a dividend at this time would not have been in the longterm interests of the Company. The Company remains confident of the prospects ofthe Group and is committed to returning to a progressive dividend policy as andwhen appropriate. "Trading remains in line with the Board's expectations. We continue to win newcontracts across a wide range of sectors throughout the Group. Once therestructuring aligns the cost base, we expect profitability to improve month onmonth. Contrary to media comment, staff turnover remains within normal levels,although headcount has already begun to reduce as part of our plannedrestructuring. We remain the second largest architectural group in the UK bysome considerable margin." -ends- For further information: Bell Pottinger Corporate & Financial Tel: +44 (0)20 7861 3232David Rydell/Chris Hamilton Numis Securities Tel: +44 (0)20 7260 1000Stuart Skinner/James Serjeant This information is provided by RNS The company news service from the London Stock Exchange