Adnams PLC AGM Statement

RNS Number : 2195T

Adnams PLC

20 June 2024

 

Adnams plc - AGM Statement

 

The Directors of Adnams plc ("the Company"), the Suffolk-based premium beer, spirits and hospitality group, will hold the Company's AGM on 27^th June 2024.

 

Further to communications earlier in the year and ahead of the AGM, the Company wishes to confirm that it has made progress in its review of options to fund its future growth plans, with interest secured from multiple parties.

 

A Board Committee is currently evaluating indicative and non-binding proposals based on its agreed framework to determine which route offers the best long-term value for the Company and its shareholders.

 

The Board also wishes to confirm that, whilst timings will be in part determined by the outcome of the review to raise additional capital, its Chairman Jonathan Adnams and Senior Independent Director Steve Sharp have both notified their intention to step down at or before the 2025 AGM, subject to re-election in 2024.

 

The Company also confirms that current sales, margin and profit remain in line with its forecast for the five month period to end of May 2024, during which time it has continued to outperform the market in beer volumes and sales. The AGM will be held at the Britten Studio, The Hoffmann Building, Snape Maltings, Snape, Suffolk, IP17 1SP on the 27^th June 2024 at 11:00.

 

ENDS

 

For further information contact [e-mail]

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

NEXSEFSWSELSEDM