Savills PLC 2020 AGM & 2019 final and supplemental dividends (3162I)
April 01 2020 - 2:00AM
UK Regulatory
TIDMSVS
RNS Number : 3162I
Savills PLC
01 April 2020
Holding of Annual General Meeting Deferred, Update
on Dividends and Publication of Annual Report and Accounts
AGM Deferral
In response to the Government's public health instructions and
stay at home measures in respect of the evolving situation
regarding the COVID-19 pandemic, the Board has taken a decision to
defer the holding of the Company's 2020 Annual General Meeting
("AGM") from 6 May 2020 to 25 June 2020. In reaching this decision,
the Board considered the health of the Company's shareholders, as
well as its officers and employees to be of paramount importance.
Further details of the AGM will be communicated via the Regulatory
News Service and through the Notice of AGM. Shareholders are
advised to check the Company's website at www.savills.com for
updates.
Update on Dividends
On 12 March 2020, the Company announced the intention to pay
final ordinary and supplemental interim dividends totalling 27.05p
per ordinary share. Notwithstanding the Group's strong balance
sheet, in view of the current uncertainty over the impact of
COVID-19 on global real estate market activity in the coming
months, Savills is withdrawing these previously announced proposed
dividends in order to retain sufficient cash reserves to mitigate
the effect. Instead, the Board intends to consider and, if
appropriate, declare an enhanced interim dividend on or around the
revised date of the AGM. If declared, it will take the place of
both the proposed ordinary and supplemental interim dividends. The
quantum will be based on the Group's performance in 2019 and the
first half of 2020. It will also be dependent upon the Board's then
assessment of the likely duration of continued market disruption as
a result of COVID-19 and the level of retained cash reserves then
deemed prudent.
Publication of Annual Report and Accounts
The Company will, on 6 April 2020, publish and mail its 2019
Annual Report and Accounts to shareholders who have elected to
receive hard copy communications. The 2019 Annual Report and
Accounts will also be available on 6 April 2020 from the Company's
website at www.savills.com .
In compliance with LR 9.6.1, copies of the 2019 Annual Report
and Accounts will also be submitted on 6 April 2020 to the National
Storage Mechanism and will be available for inspection at
http://www.morningstar.co.uk/uk/NSM
END
For further information please contact:
Savills
Mark Ridley, Chief Executive Officer Tel: +44 20 7409 8030
Simon Shaw, Chief Financial Officer
Tulchan Communications
David Allchurch Tel: +44 20 7353 4200
Elizabeth Snow
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCEAPDFDDDEEFA
(END) Dow Jones Newswires
April 01, 2020 02:00 ET (06:00 GMT)
Savills (LSE:SVS)
Historical Stock Chart
From Apr 2024 to May 2024
Savills (LSE:SVS)
Historical Stock Chart
From May 2023 to May 2024