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Equals Group PLC - Result of AGM

RNS Number : 5499R
Equals Group PLC
30 June 2020
 

For immediate release

30 June 2020

 

Equals Group plc

('Equals' or the 'Company')

 

Result of AGM

 

Update on Wirecard Card Solutions

 

Equals (AIM:EQLS), the fast-growing B2B focused e-banking and international payments group, announces that at the Company's Annual General Meeting held earlier today, all resolutions put to shareholders were voted on the basis of a poll of shareholders votes and duly passed.  The results of the proxy voting position received in advance of the meeting are reported below.   The full text of each of the resolutions is set out in the Notice of AGM which can be viewed at www.equalsplc.com.

 

 

In Favour

Discretion

Against

Withheld

Total Votes

Resolution

No of Votes

%

Votes

%

Votes

%

Votes

Cast

1

118,118,347

94.0%

154,315

0.1%

7,313,664

5.8%

73,927

125,660,253

2

125,577,326

99.9%

0

0.0%

9,000

0.0%

73,927

125,660,253

3

125,423,011

99.8%

154,315

0.1%

9,000

0.0%

73,927

125,660,253

4

125,413,761

99.8%

154,315

0.1%

82,722

0.1%

9,455

125,660,253

5

125,412,235

99.8%

154,315

0.1%

84,248

0.1%

9,455

125,660,253

 

Notes:

A vote withheld is not a vote in law and is not counted in the calculation of the percentage of the votes validly cast for or against a resolution.  All resolutions put to the meeting were carried.

 

As at the time of the meeting, the Company had 178,602,918 ordinary shares of 0.01 pence each in issue and as such this has been used to calculate the percentage of votes in favour or against each resolution.  Each of these shares carry one vote.  The Company held no shares in treasury.

 

2019 Annual Report

 

Further to the publication of the Group's Preliminary Results on 29 June 2020, Equals expects to publish its 2019 audited Annual Report and Accounts for its financial year ended 31 December 2019 shortly.  A separate General Meeting will be convened by the Group to approve the 2019 Annual Report and Accounts and an announcement relating to this will be made in due course.

 

Update on Wirecard Card Solutions

 

Late on 29 June 2020, the FCA announced that regulated activity could recommence at the UK entity of Wirecard Card Solutions ('WDCS') as of 00.01hrs on 30 June 2020.  This announcement, coming only three days after the FCA suspended activity, makes it clear that at all times WDCS was following correct safeguarding protocols and that customer money was safe when activity was suspended and remains safe going forwards.

 

For Equals Group this reinforces the Board's assessment that at all times customer monies were secure and that WDCS was not affected by the insolvency and ongoing issues of its parent company, Wirecard AG.  This ruling also means a resumption of the normal working of the Group's FairFX travel cards.  However, given the other issuance options open to the Group, it will be re-assessing strategy in this area going forward as a matter of urgency and also offering its customers more choice including by launching a new multi-currency FairFX card, not issued via WDCS, this week.

 

- Ends -

 

For more information, please contact:

 

Equals Group plc

 

Tony Quirke, Company Secretary

Tel: +44 (0) 20 7778 9357

www.equalsplc.com

 

Cenkos Securities plc (Nominated Advisor / Joint Broker)

 

Max Hartley / Callum Davidson

Nick Searle (Sales)

 

Tel: +44 (0) 20 7397 8900

Canaccord Genuity (Joint Broker)

 

Bobbie Hilliam / David Tyrell

Alex Aylen (Sales)

Tel: +44 (0) 20 7523 8150

 

 

Buchanan (Financial Communications)

 

Henry Harrison-Topham / Steph Watson / Toto Berger

[email protected]

Tel: +44 (0) 20 7466 5000

www.buchanan.uk.com

 

 

Notes to Editors:

 

Equals is a leading challenger brand in banking and payments that disintermediates the incumbent banks with a superior user experience and low-cost operating model.  The Group enables its personal and business customers to make easy, low-cost payments both domestically and in a broad range of currencies across a range of products all via one integrated system.

 

Equals provides money movement services to both business and personal customers through five inter-connected channels - International Payments, Corporate Expenses platform, Bank Accounts, Travel Money (comprising currency cards and physical currency).  International Payments channel supports wire transfer foreign exchange transactions direct to bank accounts.  For corporates, Equals has a market-leading business-expenses solution based around its corporate platform and prepaid card which yields significant cost savings via tighter control on expenses before they are incurred coupled with eliminating inefficient processes.  Equals also offers business and retail bank accounts with all the functionality offered by banks, namely faster payments, BACs, direct debits, international payments and a debit card.  The Travel Money offerings (retail currency card and physical currency) represent cost-effective and secure methods for travelers to spend abroad.

 

 


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 [email protected] or visit www.rns.com.
 
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Quick facts: Equals Group PLC

Price: 27.75

Market: AIM
Market Cap: £49.56 m
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