TIDMIFP
RNS Number : 9456U
IFG Group PLC
01 July 2009
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1 July 2009
IFG Group plc ("IFG" or the "Company")
Statement and Results of Annual General Meeting
The Company's Annual General Meeting was held today at the Radisson SAS Hotel,
Stillorgan Road, Dublin 4, at which Joe Moran (Chairman of IFG) made the
following statement:
"As you are all aware market conditions for all businesses are presently very
difficult. Our market places are no different - both difficult and demanding.
Nevertheless as you can see from the accounts before you the year under review
was one of solid and satisfactory progress with revenue of EUR109
million, operating profit of EUR20 million, adjusted EPS was 22.77 cent. Your
directors are recommending a final dividend of 2.36 cent bringing the total
year's dividend to 3.63 cent.
Overall performance shows the resilience of the businesses despite the market
volatility, pressure on margins in the International Division, changes in the UK
pension legislation and the well documented difficulties in the Irish market.
Our current view is that we can meet full year market expectations of 18 - 20
cent adjusted earnings per share (EPS). Our focus continues to be on reducing
costs, generating cash and paying down debt."
All resolutions proposed at the Annual General Meeting of the Company were
passed. The full text of each resolution was included in the Notice of the
Annual General Meeting of the Company circulated to Shareholders in April 2009.
Results of Annual General Meeting
Dublin - 1 July 2009: IFG Group plc today announces the results of the
resolutions at its Annual General Meeting held on 1 July 2009 at the Radisson
SAS Hotel, Stillorgan Road, Co Dublin.
All resolutions were passed on a show of hands.
The Issued Share Capital of the Company is represented by 74,987,228 Ordinary
Shares of EUR0.12 each.
The proxy votes received in favour of the Chairman of the Company were as
follows:-
+---------------------------------+------------+------------+--------------+-----------+
| Resolution No. |Total Vote | Total For | Votes | Withheld |
| | | | Against | |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| * Report and Accounts |39,420,501 |39,420,501 | - | - |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 2. Dividend |39,420,501 |39,420,501 | - | - |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| Re-election of Directors: | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 3 Mark Bourke |39,420,501 |39,317,363 | 96,700 | 6,438 |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 4 John Rowan |39,420,501 |39,413,663 | 6,838 | - |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 5 Donal Lynch |39,420,501 |39,317,363 | 103,138 | - |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 6 Declan Kenny |39,420,501 |39,320,363 | 100,138 | - |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 7 Thomas Wacker |39,420,501 |39,317,363 | 100,138 | 3,000 |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 8 Remuneration of Directors |39,420,501 |38,829,361 | 571,140 | 20,000 |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 9 |39,420,501 |38,842,923 | 577,578 | - |
| Authorising | | | | |
| the Directors | | | | |
| to | | | | |
| Allot the | | | | |
| Authorised | | | | |
| Share Capital | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 10 * Authorising the Directors |39,420,501 |37,701,622 | 1,718,879 | - |
| to Disapply Pre-Emption Rights | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 11 * Authorising the Purchase |39,420,501 |38,844,361 | 571,140 | 5,000 |
| of Own Shares | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 12 * Authorising the |39,420,501 |38,837,523 | 577,578 | 5,400 |
| Reissue of Own Shares | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| 13 Approving the maximum |39,420,501 |36,255,200 | 3,159,301 | 6,000 |
| number of Shares under Share | | | | |
| Option Schemes | | | | |
+---------------------------------+------------+------------+--------------+-----------+
| | | | | |
+---------------------------------+------------+------------+--------------+-----------+
*Special Resolutions
This information is provided by RNS
The company news service from the London Stock Exchange
END
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