Annual General Meeting Statement Dividend Declaration
16 Sept 2020
Eckoh plc (AIM: ECK), the global provider of secure payment products and customer contact solutions, is holding its Annual General Meeting at 11.00 a.m. today.
Following changes to company law introduced under the Corporate Insolvency and Governance Act 2020 on 26 June 2020, and as a result of the UK Government 'stay alert measures' and related guidance on social distancing and public gatherings, the Directors have decided that the AGM will be held on a closed basis which Shareholders will not be able to attend in person. A very limited number of persons from the Company will be present to conduct the meeting such that relevant legal requirements can be met. In addition, the Company will provide a video conference call link to enable Shareholders to follow proceedings.
At the time of the announcement of the Company’s preliminary results on 16 June 2020, for the period ended 31 March 2020, the Board indicated it did not intend to propose a year-end dividend, but that this decision would be kept under consideration if conditions stabilised.
Given the continued resilience of the business combined with its high levels of repeat and recurring revenues, and with a further three months of trading behind it, the Board is pleased to announce that the Board has approved the payment of a special dividend of 0.61p per ordinary share. The dividend will be paid on 23 October 2020 to shareholders on the Register as of 25 September 2020. As this is a special dividend in lieu of the final dividend from the financial year ending 31 March 2020, it does not require approval at today’s Annual General Meeting.
The Board will continue to keep its dividend policy under close review whilst the current macro-economic and COVID-19 uncertainty remains.
The Group's financial position remains strong with net cash of £12.2 million at the end of August. Management remain confident of further progress in the second half of the year.
For more information, please contact:
Eckoh PLC
Nik Philpot, Chief Executive Officer
Chrissie Herbert, Chief Financial Officer
Tel: +44 (0) 1442 458 300
www.eckoh.com
FTI Consulting LLP
Ed Bridges / Jamie Ricketts / Tom Blundell
Tel: +44 (0) 203 727 1017
eckoh@fticonsulting.com
Singer Capital Markets (Nomad & Joint Broker)
Shaun Dobson / Tom Salvesen / Alex Bond / Kailey Aliyar
Tel: +44 (0) 20 7496 3000
www.singercm.com
Canaccord Genuity Limited (Joint Broker)
Simon Bridges, Andrew Potts
Tel: +44(0) 20 7523 8000
www.canaccordgenuity.com