Redde Northgate Plc - AGM Statement

20 September 2021

REDDE NORTHGATE PLC

(the “Group”)

AGM Statement

Continued strong momentum across the Group

Redde Northgate plc (LSE:REDD), the leading integrated mobility solutions platform providing services across the vehicle lifecycle, will hold its Annual General Meeting at 10.30am today at the offices of Bryan Cave Leighton Paisner LLP, Governor’s House, 5 Laurence Pountney Hill, London, EC4R 0BR.

At the meeting the following statement will be made:

Current Trading

Following the good momentum in the first two months of FY2022 announced on 7 July at our Preliminary Results, the business has continued to perform strongly across all segments to date.  

Since our last update on 7 July, the business has signed a number of new, sizeable, multi-year contracts for services from our mobility platform which will go live in mid calendar year 2022. These new contracts draw on products and services from across the Group and underline the value of our unique and unrivalled growing mobility solutions platform which we believe can be scaled significantly.

This early, strong performance and the continued prospects for the Group are very encouraging and the Board is confident in its strategy to generate further value for all its stakeholders.

Dividend

Shareholders are being asked today to approve a final dividend of 12.0 pence per share, which will be paid on 24 September 2021, to those shareholders on the register at close of business on 3 September 2021. This dividend, if approved, will result in a total ordinary dividend payable in respect of the year ended 30 April 2021 of 15.4 pence per share.

Interim results

The Group’s next scheduled trading update will be its interim results for the six months ended 31 October 2021 in early December 2021.

For further information contact:

Buchanan                                                                                  

David Rydell/Jamie Hooper/Tilly Abraham                        [phone]

Notes to Editors:

Redde Northgate is the leading integrated mobility solutions platform providing services across the vehicle lifecycle. The Company offers integrated mobility solutions to businesses, fleet operators, insurers, OEMs and other customers across seven key areas: vehicle rental, vehicle data, accident management, vehicle repairs, fleet management, service and maintenance, vehicle ancillary services and vehicle sales.

The Company's core purpose is to keep its customers mobile, whether through meeting their regular mobility needs or by servicing and supporting them when unforeseen events occur. With its considerable scale and reach, Redde Northgate's mission is to offer a market-leading customer proposition and drive enhanced returns for shareholders by creating value through sustainable compounding growth.  The Group aims to achieve this through the delivery of its strategic framework of Focus, Drive and Broaden.

Redde Northgate services its customers through a network and diversified fleet of over 110,000 owned and leased vehicles, supporting over 600,000 managed vehicles, with more than 170 workshop, body shop and rental locations across the UK, Ireland and Spain and a specialist team of over 6,000 automotive services professionals.

Further information regarding Redde Northgate plc can be found on the Company’s website:

www.reddenorthgate.com

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