SimplyBiz In Stronger Position From Year Ago; All AGM Resolutions Pass

LONDON (Alliance News) - SimplyBiz Group PLC on Tuesday said all of its resolutions passed the ...

Alliance News 23 April, 2019 | 5:23PM
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LONDON (Alliance News) - SimplyBiz Group PLC on Tuesday said all of its resolutions passed the company's annual general meeting with Non-Executive Chair Ken Davy saying the company is in an "increased position of strength" following its initial public offering twelve months ago.

Every resolution did pass, however 12% of shareholders voted against the election of Tim Trotter as non-executive director. The same percentage of shareholders also voted against allowing the company to make political donations and allow directors to allot shares without making a pre-emptive offer to shareholders.

Davy said: "We said that the IPO would provide us with greater access to capital, ensure continuity and stability for all concerned and help us to continue to deliver our high quality services and technology to the many firms we serve, in order to help them secure their long-term futures and allow us to harness and expand the use of technology, which is playing such an increasingly vital role in financial services."

Access to that capital, said Davy, allowed the company to complete the acquisition of Defaqto, which he described as a "significant event".

"The addition of Defaqto to the SimplyBiz group also allows us to capitalise on our joint strengths and add to the range of benefits that we already offer our respective customers," said Davy.

Davy added: "It is clear for all to see that we are combining technology and personal services in order to give SimplyBiz a unique advantage within the financial services market place. I believe our combination of high-tech with high-touch gives us real confidence in our ability to continue to grow."

Shares in SimplyBiz closed down 1.4% Tuesday at 218.00 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
SimplyBiz Group (The) PLC 235.00 -
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