ARGO Group Limited Pre-closed period update (3335O)
29 January 2019 - 6:00PM
UK Regulatory
TIDMARGO
RNS Number : 3335O
ARGO Group Limited
29 January 2019
29 January 2019
Argo Group Limited ("AGL" or "the Company")
Pre-closed period update
Argo Group Limited, the independent alternative investment
manager offering a multi-strategy platform for investing in global
emerging markets, announces the following update to shareholders
ahead of its full year results which will be published in early
March.
The management fees in the year ended 31 December 2018 will be
broadly flat year-on-year. However, the significant performance
fees which equalled US$5.9 million in the year ended 31 December
2017 will not be repeated amid difficult trading conditions in
emerging markets. As a consequence, in spite of tight cost control,
AGL will record an operating loss for the year ended 31 December
2018.
The Board does not intend to declare a final dividend. However,
the Board is considering a return of capital to shareholders via a
buyback of shares, as to which further announcements will be made
in due course.
Enquiries:
Argo Group Limited
Andreas Rialas
020 7016 7660
Panmure Gordon
Dominic Morley
020 7886 2500
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END
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