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Fairfx Group Plc LSE:FFX London Ordinary Share GB00BLS0XX25 ORD 1P
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Equals Group PLC Result of AGM

30/06/2020 11:51am

UK Regulatory (RNS & others)


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TIDMEQLS

RNS Number : 5499R

Equals Group PLC

30 June 2020

 
 For immediate release   30 June 2020 
 

Equals Group plc

('Equals' or the 'Company')

Result of AGM

Update on Wirecard Card Solutions

Equals (AIM:EQLS) , the fast-growing B2B focused e-banking and international payments group, announces that at the Company's Annual General Meeting held earlier today, all resolutions put to shareholders were voted on the basis of a poll of shareholders votes and duly passed. The results of the proxy voting position received in advance of the meeting are reported below. The full text of each of the resolutions is set out in the Notice of AGM which can be viewed at www.equalsplc.com.

 
                   In Favour          Discretion         Against        Withheld   Total Votes 
 Resolution   No of Votes     %     Votes      %     Votes        %     Votes         Cast 
 1            118,118,347   94.0%   154,315   0.1%   7,313,664   5.8%     73,927   125,660,253 
 2            125,577,326   99.9%         0   0.0%       9,000   0.0%     73,927   125,660,253 
 3            125,423,011   99.8%   154,315   0.1%       9,000   0.0%     73,927   125,660,253 
 4            125,413,761   99.8%   154,315   0.1%      82,722   0.1%      9,455   125,660,253 
 5            125,412,235   99.8%   154,315   0.1%      84,248   0.1%      9,455   125,660,253 
 

Notes :

A vote withheld is not a vote in law and is not counted in the calculation of the percentage of the votes validly cast for or against a resolution. All resolutions put to the meeting were carried.

As at the time of the meeting, the Company had 178,602,918 ordinary shares of 0.01 pence each in issue and as such this has been used to calculate the percentage of votes in favour or against each resolution. Each of these shares carry one vote. The Company held no shares in treasury.

2019 Annual Report

Further to the publication of the Group's Preliminary Results on 29 June 2020, Equals expects to publish its 2019 audited Annual Report and Accounts for its financial year ended 31 December 2019 shortly. A separate General Meeting will be convened by the Group to approve the 2019 Annual Report and Accounts and an announcement relating to this will be made in due course.

Update on Wirecard Card Solutions

Late on 29 June 2020, the FCA announced that regulated activity could recommence at the UK entity of Wirecard Card Solutions ('WDCS') as of 00.01hrs on 30 June 2020. This announcement, coming only three days after the FCA suspended activity, makes it clear that at all times WDCS was following correct safeguarding protocols and that customer money was safe when activity was suspended and remains safe going forwards.

For Equals Group this reinforces the Board's assessment that at all times customer monies were secure and that WDCS was not affected by the insolvency and ongoing issues of its parent company, Wirecard AG. This ruling also means a resumption of the normal working of the Group's FairFX travel cards. However, given the other issuance options open to the Group, it will be re-assessing strategy in this area going forward as a matter of urgency and also offering its customers more choice including by launching a new multi-currency FairFX card, not issued via WDCS, this week.

- Ends -

For more information, please contact:

 
 Equals Group plc 
 Tony Quirke, Company Secretary             Tel: +44 (0) 20 7778 
                                                            9357 
                                               www.equalsplc.com 
 Cenkos Securities plc (Nominated Advisor 
  / Joint Broker) 
 Max Hartley / Callum Davidson              Tel: +44 (0) 20 7397 
  Nick Searle (Sales)                                       8900 
 Canaccord Genuity (Joint Broker) 
 Bobbie Hilliam / David Tyrell              Tel: +44 (0) 20 7523 
  Alex Aylen (Sales)                                        8150 
 Buchanan (Financial Communications) 
 Henry Harrison-Topham / Steph Watson       Tel: +44 (0) 20 7466 
  / Toto Berger                                             5000 
  equals@buchanan.uk.com                     www.buchanan.uk.com 
 

Notes to Editors:

Equals is a leading challenger brand in banking and payments that disintermediates the incumbent banks with a superior user experience and low-cost operating model. The Group enables its personal and business customers to make easy, low-cost payments both domestically and in a broad range of currencies across a range of products all via one integrated system.

Equals provides money movement services to both business and personal customers through five inter-connected channels - International Payments, Corporate Expenses platform, Bank Accounts, Travel Money (comprising currency cards and physical currency). International Payments channel supports wire transfer foreign exchange transactions direct to bank accounts. For corporates, Equals has a market-leading business-expenses solution based around its corporate platform and prepaid card which yields significant cost savings via tighter control on expenses before they are incurred coupled with eliminating inefficient processes. Equals also offers business and retail bank accounts with all the functionality offered by banks, namely faster payments, BACs, direct debits, international payments and a debit card. The Travel Money offerings (retail currency card and physical currency) represent cost-effective and secure methods for travelers to spend abroad.

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 rns@lseg.com or visit www.rns.com.

END

RAGEAEKEDLPEEFA

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June 30, 2020 06:51 ET (10:51 GMT)

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