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The Board’s present powers to concern or buy again shares and proposals for their renewal are detailed on pages 21 and 22. Under another agreement (‘the Administration Agreement’) dated 1 January 2016, firm secretarial companies and the general administration of the Group are undertaken by Maitland Administration Services Limited (‘Maitland’).
- Whilst the supply premiums were attractive, it was the prevailing share value the day earlier than the provide that we felt was very incorrect.
- At the time, it felt like our corporations were being acquired at the ‘mistaken value’.
- Shareholders I am certain recall ‘the method’ as being completely exhausting and distracting.
- The introduction of ‘the lockdown’, one thing by no means experienced earlier than within the United Kingdom, led to a few days of what we are calling ‘the Great Panic’.
- Share costs, across the board, collapsed as fear took over from uncertainty and the apocalyptic projections from Imperial College of 500,000 folks dying were not the backcloth to any economic system prospering.
At the yr end the Board consisted of 4 Directors, all of whom are non-executive. The Board seeks to make sure that it has the suitable steadiness of expertise, experience and length of service amongst its members.
At the identical time the core dividend was elevated by 7.02% in line with the focused enhance. The announcement of the fourth interim dividend is consistent with the dividend coverage as set out on 6 March 2019. Further, according to that coverage, the Company has not paid a special dividend in respect of the 2019/2020 monetary yr. If shares are issued sooner or later, the Board will take into account the two elements above, along with the undoubted opportunities that there are at this time to acquire shares in firms at ‘the mistaken worth’.