TIDMREDD 
 
28 October 2020 
 
                              REDDE NORTHGATE PLC 
 
                                   ("Group") 
 
                                 AGM Statement 
 
Redde Northgate plc (LSE:REDD), the leading integrated mobility solutions 
platform, will hold its Annual General Meeting at 10.30am today at the offices 
of Bryan Cave Leighton Paisner LLP, Governor's House, 5 Laurence Pountney Hill, 
London, EC4R 0BR. 
 
At the meeting the following statement will be made: 
 
Current Trading 
 
In the first five months of FY2021 the Group has seen sequential monthly 
improvements in trading, with a recovery in VOH to slightly above pre-COVID 
levels, strong used vehicle prices and disposal profits, but slower recovery 
than expected in Redde volumes due to several factors including local and 
regional lockdowns. 
 
Absent a deeper or more prolonged impact of COVID-19 than currently expected, 
the Board is comfortable with the consensus of FY2021 analyst forecasts that 
have been updated since April 2020. 
 
Dividend 
 
Shareholders are being asked today to approve a final dividend of 6.8 pence per 
share, which will be paid on 3 November 2020, to those shareholders on the 
register at close of business on 25 September 2020. This dividend, if approved, 
will result in a total ordinary dividend payable in respect of the year ended 
30 April 2020 of 13.1 pence per share. 
 
Interim results 
 
The Group will announce its interim results for the six months ended 31 October 
2020 in early December 2020. 
 
Merger Integration 
 
Notwithstanding the continued COVID environment, the integration plan continues 
to perform well against the increased targets announced in our preliminary 
results on 16 September 2020 and the launch of our new incident and accident 
service into the Northgate customer base is well advanced. Our stated strategy 
to deliver increased products and services through an integrated mobility 
service platform is gaining good traction and we are progressing the 
integration of the business and assets purchased from Nationwide Accident 
Repair Services which will now trade as FMG Repair Services. 
 
For further information contact: 
 
Buchanan 
 
David Rydell/Jamie Hooper/Tilly Abraham                        +44 (0) 207 466 
5000 
 
Notes to Editors: 
 
Redde Northgate plc is a leading integrated mobility solutions platform formed 
in February 2020 following the all-share Merger of light commercial hire 
business Northgate plc and Redde plc, the provider of incident and accident 
management, legal and other mobility-related services. 
 
The Group provides mobility solutions and automotive services to a wide range 
of businesses and customers spanning the vehicle life cycle across vehicle 
supply, service, maintenance, repair, recovery, accident and incident 
management and disposal through sale or salvage. 
 
With an extensive network and diversified fleet of over 110,000 owned vehicles 
and over 400,000 managed vehicles in more than 100 branches across the UK, 
Ireland and Spain, the Group aims to utilise its scale, reach and comprehensive 
suite of integrated services to offer a market-leading customer proposition and 
drive enhanced returns for shareholders. 
 
Further information regarding Redde Northgate plc can be found on the company's 
website: 
 
www.reddenorthgate.co.uk 
 
 
 
END 
 

(END) Dow Jones Newswires

October 28, 2020 03:00 ET (07:00 GMT)

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