Result of AGM
June 08 2010 - 10:31AM
UK Regulatory
TIDMAMBR
RNS Number : 2695N
Ambrian Capital PLC
08 June 2010
08.06.10
Ambrian Capital plc
Result of Annual General Meeting
Ambrian Capital plc ("Ambrian Capital" or "the Company") announces that at its
Annual General Meeting held today all resolutions were passed.
Charles Crick, Non-executive Director, Chairing the AGM today, updated
shareholders with the following statement:
"Ambrian Capital's revenues in the first five months of the year were in line
with the same period last year. Personnel and recruitment costs have increased
to a greater extent, however, as a result of the investment in strengthening the
Corporate Finance & Equities business. The balance sheet remains strong, but
with cash having reduced since the year-end principally as a result of the
dividend payment and the payment of 2009 profit-related bonuses.
The Commodities businesses have been performing well but have not enjoyed a
repeat of the extraordinary market environment in physical metals that existed
in the first half of 2009 when, for example, the copper price rose by 54% and
copper premiums CIF Shanghai reached US$170/tonne.
The Corporate Finance & Equities business continues to build on its strong
market position in the natural resources sector, taking steps at the beginning
of the year to broaden and improve the quality of its earnings. This has
resulted in an increase in personnel costs, the revenue benefits of which can be
expected to flow through later this year and in 2011.
Ambrian Principal Investments Limited, our principal investment portfolio, has
had an excellent first five months of the year showing a 37% growth in net asset
value per share.
Ambrian's breadth of activities in the natural resources sector and liquid
balance sheet will ensure its resilience and long term growth despite near term
market uncertainties."
Enquiries
+------------------------+------------------------+
| Ambrian Capital plc | |
+------------------------+------------------------+
| Tom Gaffney, Chief | + 44 (0)20 7634 4700 |
| Executive | |
+------------------------+------------------------+
| | |
+------------------------+------------------------+
| Fox-Pitt Kelton | |
| Limited | |
+------------------------+------------------------+
| Simon Law | + 44 (0)20 3037 5237 |
+------------------------+------------------------+
| | |
+------------------------+------------------------+
| M: Communications | |
+------------------------+------------------------+
| Charlotte Kirkham | + 44 (0)20 7920 2330 |
+------------------------+------------------------+
Notes to Editors:
AMBRIAN CAPITAL PLC
Ambrian Capital plc (AIM: AMBR) is a specialist investment bank active in
Corporate Finance & Equities, Commodities and Principal Investments.
Corporate Finance & Equities
Ambrian Partners Limited is known in the market today for its leading positions
in the metals & mining, oil & gas and cleantech sectors. It provides corporate
finance advice, equity research, sales and trading and market making services.
Ambrian Partners is a member of the London Stock Exchange and is authorised and
regulated by the Financial Services Authority.
Commodities
Ambrian Commodities Limited is a trader and broker specialising in London Metals
Exchange cleared base metals futures and options. Its customers include metals
producers, consumers, merchants, traders and financial investors. Ambrian
Commodities is an Associate Broker Member of the London Metal Exchange and is
authorised and regulated by the Financial Services Authority.
Ambrian Metals Limited is an independent physical metals merchant with a
particular strength in refined copper. Through Ambrian Metals' offices in London
and Shanghai and agents in New York, Santiago, São Paulo, Seoul and Tokyo, it
sources non-ferrous metals from producers for distribution to an international
client base of metals consumers and merchants.
Principal Investments
Ambrian Principal Investments Limited is an investment company which holds the
Group's principal investment portfolio. It is managed by Ambrian Asset
Management Limited, which is authorised and regulated by the Financial Services
Authority.
Further information on Ambrian Capital is available on the Company's website:
www.ambrian.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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