TIDMSBIZ
RNS Number : 8461W
SimplyBiz Group PLC (The)
23 April 2019
23 April 2019
The SimplyBiz Group plc
(the "Company" or "SimplyBiz")
Result of 2019 Annual General Meeting
SimplyBiz (AIM: SBIZ), a leading fintech and support services
group, announces that all of the resolutions set out in the Notice
of AGM were passed by the requisite majority at the Company's AGM,
held earlier today.
Ken Davy, Non-Executive Chairman said to the meeting:
"It was just over a year ago - on the 4th of April 2018 - when
we floated on AIM, and I would like to reflect for a few moments on
what we told our customers, our staff and you, our shareholders, to
expect when we took that important step. 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.
"Twelve months later, I am pleased to say that I believe your
Group is indeed in an increased position of strength, and seen as a
leader in its field.
"In particular, the additional capital, which we had access to
following the IPO, has meant that we could set ourselves bigger
goals, something we have clearly demonstrated by bringing Defaqto
into the Group; a significant event which occurred shortly after
the publication of our 2018 results.
"I would like to briefly cover some of the headlines, as to why
we chose to acquire Defaqto. Speaking of headlines, in a comment on
our acquisition of Defaqto, the London Evening Standard highlighted
Defaqto as being the Michelin star of the financial services
sector; a view I would share, as their Five Star Ratings are highly
prized by providers large and small, throughout the financial
services sector. Defaqto, however, has another less obvious side to
its business in that it also deals directly with financial
advisers. The result is that the potential combined reach of the
enlarged Group has a total of nearly 4,700 financial advice firms,
more mortgage and GI firms than ever before, and over 800 consumer
credit firms.
"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. As with
all of our acquisitions, we specifically looked for a firm which
would mesh into the objectives and culture of the existing Group -
bringing additional strength to areas in which we were less
active.
"In terms of continuity and stability, I am proud that we have
never lost sight of our core objective - to provide the highest
quality of compliance and business support to financial advisers.
The IPO has certainly not affected our focus in this area, but it
has allowed us to further strengthen our executive team. You may be
confident that we will maintain our unwavering commitment to
putting the needs of our customers and, importantly, the needs of
their clients, at the heart of everything we do.
"Similarly, whilst the size of The SimplyBiz Group team has
grown - we now employ over 520 people - we still only employ two
types of people; those who directly support the firms and customers
we serve, and those who support the teams who deliver those
services. Both of whom are equally important.
"We passionately believe in the value of professional financial
advice and we will continue to do all we can to help advisers
remain compliant, successful and profitable. I don't believe that
there has been a better time to be a financial adviser, as the
demand for advice continues to increase whilst the number of
advisers struggles to keep up with demand. It will be no surprise
to you that we are therefore committed to promoting financial
services as an attractive career option.
"The successful apprenticeship programme run by our training and
development division called the 'New Model Business Academy' offers
paths to becoming a financial adviser or paraplanner. Since we
launched the apprenticeship at the beginning of 2018, every cohort
has been fully subscribed with future financial services
professionals. Our first class of apprentices graduate shortly, and
we look forward to seeing many more start their journey in the
coming months and years.
"Finally, we have made huge strides with our investments into
technology, and not only by welcoming Defaqto to the Group. The
launch and development of our investment advice system, Centra, has
proved very popular with the adviser firms who use our services
and, though only launched just over a year ago, more than 2,700
licenses have already been taken up. In addition, Zest, developed
by the employee benefits division of The SimplyBiz Group, has
recently won some large contracts with household names including
Aviva and Taylor Wimpey.
"It is clear for all to see that we are combining technology and
personal services in order to give The SimplyBiz Group 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.
"These investments in the fintech market are important pointers
to the future of your Group and the way in which technology can
support the hugely important work done by advisers. Financial
Services has always been a sector with people at its heart, and
you, our Shareholders, may be confident that we are determined to
continue to work to improve the outcomes for the end clients and
the advisers and providers who serve them.
Since its launch in 2002, The SimplyBiz Group has never stood
still - we work hard to retain the position of market-leader, and I
can assure you we will continue to do so."
Details of the proxy votes received by the Company are as
follows:
For Against Total Votes Withheld
No. of % No. % No. of % No. of
votes of votes votes votes
----------- ------- ---------- ------- ----------- ----- ---------
1. To receive
the Annual Report
and Accounts 38,788,022 100% 0 0% 38,788,022 100% 0
----------- ------- ---------- ------- ----------- ----- ---------
2. To declare
final dividend
of 2.05 pence
per ordinary
share 38,788,022 100% 0 0% 38,788,022 100% 0
----------- ------- ---------- ------- ----------- ----- ---------
3. To elect
Ken Davy 38,010,817 98.00% 775,768 2.00% 38,786,585 100% 1,437
----------- ------- ---------- ------- ----------- ----- ---------
4. To elect
Neil Stevens 38,786,585 100% 0 0% 38,786,585 100% 1,437
----------- ------- ---------- ------- ----------- ----- ---------
5. To elect
Matt Timmins 38,786,585 100% 0 0% 38,786,585 100% 1,437
----------- ------- ---------- ------- ----------- ----- ---------
6. To elect
Gareth Hague 38,786,585 100% 0 0% 38,786,585 100% 1,437
----------- ------- ---------- ------- ----------- ----- ---------
7. To elect
Tim Trotter 34,108,040 87.94% 4,678,545 12.06% 38,786,585 100% 1,437
----------- ------- ---------- ------- ----------- ----- ---------
8. To elect
Tim Clarke 38,786,585 100% 0 0% 38,786,585 100% 1,437
----------- ------- ---------- ------- ----------- ----- ---------
9. To elect
Gary Hughes 38,786,585 100% 0 0% 38,786,585 100% 1,437
----------- ------- ---------- ------- ----------- ----- ---------
10. To re-appoint
KPMG as auditor 38,786,585 99.99% 1,437 0.01% 38,788,022 100% 0
----------- ------- ---------- ------- ----------- ----- ---------
11. To authorise
Directors to
determine auditor's
remuneration 38,786,585 100% 0 0% 38,786,585 100% 1,437
----------- ------- ---------- ------- ----------- ----- ---------
12. To authorise
the Company
to make political
donations and
incur political
expenditure 33,994,919 87.64% 4,793,103 12.36% 38,788,022 100% 0
----------- ------- ---------- ------- ----------- ----- ---------
13. To authorise
the Directors
to allot relevant
securities 38,786,585 99.99% 1,437 0.01% 38,788,022 100% 0
----------- ------- ---------- ------- ----------- ----- ---------
14. To authorise
the directors
to allot equity
securities for
cash without
making a pre-
emptive offer
to shareholders* 33,996,356 87.65% 4,791,666 12.35% 38,788,022 100% 0
----------- ------- ---------- ------- ----------- ----- ---------
15. To authorise
the directors
to allot equity
securities for
cash in relation
to an acquisition
or other capital
investment* 33,996,356 87.65% 4,791,666 12.35% 38,788,022 100% 0
----------- ------- ---------- ------- ----------- ----- ---------
16. To authorise
the Company
to make market
purchases of
its ordinary
shares* 38,788,022 100% 0 0% 38,788,022 100% 0
----------- ------- ---------- ------- ----------- ----- ---------
17. To allow
general meetings
(other than
AGMs) to be
called on 14
clear days'
notice* 38,786,585 100% 0 0% 38,786,585 100% 1,437
----------- ------- ---------- ------- ----------- ----- ---------
*Special resolution
Notes:
1. Proxy appointments which gave discretion to the Chairman of
the AGM have been included in the "For" total for the appropriate
resolution.
2. Votes "For" and "Against" any resolution are expressed as a
percentage of votes validly cast for that resolution.
3. A "Vote withheld" is not a vote in law and is not counted in
the calculation of the percentage of shares voted "For" or
"Against".
4. The number of shares in issue on 23 April 2019 was 96,782,296 with no shares in treasury.
5. The full text of the resolutions passed at the AGM can be
found in the Notice of Annual General Meeting which is available on
the Company's website at www.simplybizgroup.co.uk
Enquiries:
The SimplyBiz Group plc via Instinctif Partners
Matt Timmins (Joint Chief Executive
Officer)
Neil Stevens (Joint Chief Executive
Officer)
Zeus Capital (Nominated Adviser and
Joint Broker) +44 (0) 20 3829 5000
Martin Green
Andrew Jones
Pippa Hamnett
Peel Hunt LLP (Joint Broker) +44 (0) 20 7418 8900
Guy Wiehahn
Andrew Buchanan
Rishi Shah
Instinctif Partners +44 (0) 20 7457 2020
/ SimplyBiz@instinctif.com
Catherine Wickman
Katie Bairsto
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END
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