22 September 2016
('Fiske' or 'the Company')
Result of AGM
Fiske Plc (the 'Company') announces that at the AGM held today all the resolutions were duly passed.
Speaking at the AGM, Clive Harrison, the Company's Executive Chairman, said the following:
I am sure you have already read my statement in the Report and Accounts and I do not propose to repeat it now. The essence was that last year was poor but the reported result was mainly due to the direct and indirect costs of the systems change. These costs are now behind us and all of the implementation costs, some 80% of the total, have been written off. Only the license fee has been capitalised as is our standard practice.
The current year has got off to a good start and we have traded profitably during the first quarter. We have also benefitted from the receipt of the Euroclear dividend. The second quarter has continued in a similar vein to the first which gives us confidence for a positive result for the first half of the year.
Markets world-wide remain remarkably buoyant at present although volatility is still prevalent. Problems in the Chinese economy and in the Eurozone remain, but the scare stories about the effect of a Brexit vote on the UK economy have been shown to be what they appeared at the time - a gross distortion. Two of the principal perpetrators of the scare campaign have left office deservedly but others remain. The UK stock market will continue to be heavily influenced by Wall Street and overseas economic events and I take a cautious view as a result.
For further information please contact:
• Gerard Luchini, Fiske Plc - Compliance Officer
(tel: 020 7448 4700)
• Salmaan Khawaja/Richard Tonthat/Harrison Clarke, Grant Thornton UK LLP (Nominated Adviser)
(tel: 020 7383 5100)
This information is provided by RNS