Mon 18 May 2015
Panmure Gordon & Co. plc
(“Panmure Gordon” or the “Company”)
At the annual general meeting of the Company being held today, Ed Warner, Board Chairman, will make the following comment:
“Panmure Gordon delivered a robust performance in 2014 and at today’s AGM it is proposed to make a welcome return to the payment of dividends for the first time in seven years following the global financial crisis.
The Board is encouraged that the successful reinvigoration of the Company under new leadership in recent years has established a solid foundation for the future with the business remaining firmly focussed on providing an excellent level of service to our corporate and institutional clients.
Commission rates in the secondary market remain under pressure throughout the market and place increased emphasis on the importance of corporate finance activity to sustain profitability. Since the start of the year, the Company has successfully led a number of high quality transactions for corporate clients and is working on a healthy pipeline of engagements.
On 6 May 2015 the Board announced that Panmure Gordon had agreed non-binding heads of terms to acquire Charles Stanley Securities. It remains our intention to complete this transaction by the end of May 2015 although there can be no certainty in this regard. Any further announcement will be made at the appropriate time.
Phillip Wale, Chief Executive
Ed Warner, Chairman
|020 7886 2500|
Buchanan (financial PR)
Mark Edwards/Helen Chan/Stephanie Watson
020 7466 5000
Grant Thornton Corporate Finance (Nominated Adviser)
Philip Secrett/Salmaan Khawaja/Jen Clarke
020 7383 5100