CPL Resources PLC Board Appointment and Trading Update (8165E)
23 October 2018 - 4:00AM
UK Regulatory
TIDMCPS
RNS Number : 8165E
CPL Resources PLC
22 October 2018
22 October 2018
Cpl Resources Plc
Board Appointment and Trading Update
Cpl Resources plc ('Cpl' or the 'Group'), Ireland's leading
provider of talent solutions and talent advisory services, held its
Annual General Meeting ('AGM') in Dublin this afternoon, issued a
trading update and announced the appointment of a new independent
Director to the Board.
Board Appointment
The Group is pleased to announce the appointment of Elaine
Coughlan, to the Board of Directors, effective 23 October 2018.
Elaine is a co-Founder and Managing Partner of Atlantic Bridge
Capital a Global Growth Equity Technology Fund. She is a Fellow of
the Institute of Chartered Accountants and a qualified Chartered
Director.
Trading Update
At the AGM, Chairman Mr John Hennessy made the following
statement:
"On 11 September 2018 we announced our results for the year
ended 30 June 2018. The Group reported record revenues in excess of
EUR522 million and double-digit growth across all key metrics. The
Group reported a strong balance sheet position, closing the year
with net assets of EUR92.5 million and a net cash balance of
EUR24.2 million, demonstrating the profitable and cash generative
nature of our business.
At our AGM today, our shareholders approved a final dividend of
7.15 cent per share, bringing the total dividend for the year to
13.5 cent per share, an increase of 17%.
The Group has had a good start to the new financial year. Our
Flexible Talent division continues to grow at pace, as our business
model evolves to meet shifting workforce preferences and a
strengthening demand for more flexible talent solutions. Our
Permanent division is performing in line with expectations. Overall
economic indicators today remain positive and we expect to perform
slightly ahead of current market expectations in the months
ahead.
We continue to pursue organic growth and explore potential
strategic partnerships and acquisitions in our key sectors and
markets.
The effects of Brexit still remain unclear and our position
remains that it will present both challenges and opportunities for
Cpl.
We would also like to announce the appointment of Elaine
Coughlan as an independent non-executive director to the Board,
effective 23 October 2018. Elaine is a founder of Atlantic Bridge,
a global growth technology fund and is a non-executive director of
the Board of Enterprise Ireland. Elaine has over twenty years
operational and M&A experience as an entrepreneur and executive
in scaling Irish technology companies. We are delighted to welcome
her to the Board".
-End-
For Further Information:
Anne Heraty, CEO, Cpl Resources Plc: +353 1 614 6000
Mark Buckley, Deputy CEO & COO, Cpl Resources Plc: +353 1
614 6000
Lorna Conn, CFO, Cpl Resources Plc: +353 1 614 6000
Ivan Murphy/ Daragh O'Reilly, Davy Corporate Finance: +353 1 679
6363
Melanie Farrell/ Jonathan Neilan, FTI Consulting: +353 1 765
0888
Additional Information:
Ms Elaine Coughlan (47) holds no shares in Cpl Resources plc,
and, other than as set out below, there is no further information
to be disclosed under schedule 2(g) and Rule 17 of the AIM and ESM
Rules in respect of Ms Coughlan's appointment as a Non-Executive
Director.
Elaine Coughlan is, or has been, a director of the following
companies during the previous five years:
Current Directorships Past Directorships
ABVEN Fund II Nominees Limited Swrve Mobile Inc
CIGTF Nominees Limited Sophia Search Limited
The Institute of Directors in
Atlantic Bridge GP Limited Ireland
Atlantic Bridge II GP Limited Enterprise Ireland
Atlantic Bridge II Nominees Limited
Atlantic Bridge III GP Limited
Atlantic Bridge III Nominees
Limited
Atlantic Bridge Nominees No 1
Limited
Atlantic Bridge Nominees No 3
Limited
Atlantic Bridge Nominees No 2
Limited
Atlantic Bridge Ventures Holdings
Ltd
China Ireland Growth Technology
Fund GP LLC
Atlantic Bridge University Nominees
Limited
Atlantic Bridge Services Limited
IWCS Limited
Atlantic Bridge University GP
Limited
Atlantic Bridge II Opportunity
GP Limited
Novaerus Group Limited
China Ireland Growth Technology
Fund II GP Ltd
CIGTF II Nominees Ltd
Bellfort Limited
Fieldaware Group Limited
Oman Technology Fund SAOC
St Gerard's School Trust
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END
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