GlobalCapital plc – Interim Directors’ Statement
GlobalCapital plc issued the following Company Announcement pursuant to the Malta Financial Services Authority Listing Rules.
GlobalCapital p.l.c. (“the Company”) hereby announces that since the publication of its unaudited interim financial report for the the period January – 30 June 2015, no material events or transactions have taken place that would have an impact on the financial position of the Company, such that would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules.
The transformation strategy aimed at generating revenue growth, reducing operational costs and ensuring long-term financial stability is generating the desired results for the Group allowing the positive performance to continue throughout the reporting period. The business registered by the Company’s life insurance subsidiary, GlobalCapital Life Insurance Limited, registered growth during the first nine months of 2015 when compared to the business registered during the same reporting period in 2014. The health insurance agency’s results remained in positive territory with both revenues and costs in line with the prior year. The investment company registered a decrease in its fees, which adverse impact was more than offset by the reduction in the company’s cost base. Throughout the last months further action has been taken in relation to the divestment of the Group’s local property portfolio. In due course this will further reduce the overall property exposure to bring it in line with the board’s expectations.
On the 16th September 2015 it was announced that EIP plc is still intent to support the Company in any capital increases, which the Company intends to make. Further to the resolutions approved at the General Meeting held on 16 September 2015 it is the Directors’ intention to give effect to the shareholders’ resolution to increase the Company’s issued share capital during the early course of 2016.
To view the Official Company Announcement, click here.