BCA Marketplace PLC AGM Statement (0437Q)

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RNS Number : 0437Q

BCA Marketplace PLC

07 September 2017

7 September 2017

BCA Marketplace plc

("BCA" or the "Company")

AGM Statement

BCA Marketplace plc, which provides customer centric solutions across the automotive value chain, fueling the largest used vehicle remarketing exchange in the UK and Europe, is pleased to provide the following update prior to its Annual General Meeting to be held at 9.30am today at the offices of Berwin Leighton Paisner LLP, Adelaide House, London Bridge, London EC4R 9HA.

The Board is pleased to report that the Company continues to trade and grow in line with our strategy, growth and financial expectations. The Board remains confident about the Group's prospects for the financial year as a whole and its strategic development plans for the future.

The core auction related Vehicle Remarketing division continues to trade well and enhance its market leading position by focusing on a professional and efficient operational delivery and a growing portfolio of digital products which are driving growth in both the physical and online channels.

Our Vehicle Buying division, led by the Webuyanycar brand, is the clear market leader in its sector and continues to demonstrate its position as the car buying company of choice for consumers which is delivering sustained double digit volume growth and high Trustpilot ratings.

The Automotive Services division is growing in line with our plans. We have recently appointed Ian Carlisle as CEO of this division. Ian is an experienced leader, with a broad career across a number of complex service industries at a senior board level, including Marks and Spencer, Autoglass and Homeserve. Ian will lead the next phase in the development of the Division as we progress to offer customers fully integrated solutions for all their automotive needs.

In line with our strategy to grow our digital and online capabilities and product offering, we are pleased to announce the appointment of Jonny Crowe, who joined the Group as Chief Digital Officer on 1 September 2017. Jonny will be responsible for all of our IT, data, digital and online systems and products. He is an extremely experienced internet and media executive, most recently as an adviser to Apax Partners and prior to that in a number of roles including CEO of Grupa Onet, Pl SA, Chief Digital Officer of Ringier Axel Springer, COO Europe of Naspers. He was also a founder of the EU arm of US incubator idealab.

Shareholders are being asked today to approve a final dividend of 4.55 pence per ordinary share, which if approved, will be paid on 29 September 2017 to those shareholders on the Register at the close of business on 15 September 2017. If approved, this will result in a total dividend of 6.75 pence per share for the financial year ending 2 April 2017.

The Board is also pleased to confirm that it is well advanced in the process to transfer the listing category of its ordinary shares from a Standard Listing to a Premium Listing on the Official List of the UK Listing Authority ("UKLA") and, subject to the approval of the UKLA, anticipates announcing its notification of intention to transfer in the coming weeks.

Enquiries:

   Square1 Consulting (Financial PR)             [phone] 

David Bick

BCA Marketplace plc (Investor Relations)

   Tim Richmond                                              [e-mail] 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 07, 2017 02:00 ET (06:00 GMT)