Persimmon PLC Annual Financial Report (1550I)
March 19 2018 - 7:59AM
UK Regulatory
TIDMPSN
RNS Number : 1550I
Persimmon PLC
19 March 2018
19 March 2018
Persimmon Plc (the "Company")
Annual Report 2017 and Annual General Meeting
Following the release of our 2017 final results on 27 February
2018, the Company announces that the following documents are today
being made available to shareholders:-
1. Annual Report for the year ended 31 December 2017;
2. Notice of Annual General Meeting to be held on 25 April 2018
and Explanatory Circular; and
3. Proxy Form for the 2018 Annual General Meeting.
As detailed in the Annual Report, the management team continues
to pursue the execution of the Group's new strategy launched in
2012 with great success. Given the strong performance and financial
position of the Group, having completed its annual review of the
availability of surplus capital, the Board concluded to increase
the Capital Return Plan to shareholders. The total value of the
Capital Return Plan was increased to GBP13.00 per share to 2021,
more than double the GBP6.20 per share original commitment made by
the Board in 2012. This has been achieved by management whilst at
the same time having invested c. GBP3.2bn in land, opened 1,189 new
sales outlets, and increased output by over 70% to deliver over
80,000 new homes to the Group's customers over the last 6
years.
In addition, the Company recently announced on 15 March 2018 the
appointment of Roger Devlin as Chairman from 1 June 2018. Nigel
Mills, Senior Independent Director and Acting Chairman of the
Company said "Following a very thorough process, the Board has
agreed that Roger is the right candidate to chair Persimmon. I am
sure that his wide business experience and his personal qualities
will enable him to make a significant contribution to the future of
the Group."
We believe it to be in the best interests of the Company and its
shareholders now to move forwards. The 2017 PSP was supported by
95% of shareholders at last year's AGM and further amendments are
being made to 2018 remuneration and to the overall remuneration
approach in the future. The Executives have offered reductions in
their contractual entitlements, accountability has been shown at
Board level and further governance changes have been introduced
including, most recently, the appointment of a new Chairman. The
business, led by an excellent and committed management team,
continues to perform well. Accordingly, we are asking that
shareholders support all the resolutions at the forthcoming
AGM.
Detailed information may be found in the Annual Report 2017.
Printed copies of the Annual Report 2017 and Notice of Annual
General Meeting 2018 are available on request from the Company
Secretary, Persimmon Plc, Persimmon House, Fulford, York, YO19 4FE
and are also available to view on our Company website at:
persimmonhomes.com/corporate/investors.
In accordance with Listing Rule 9.6.1, a copy of each of the
above documents has been submitted to the National Storage
Mechanism and will shortly be available for inspection at:
www.morningstar.co.uk/uk/NSM.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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