ELECO PUBLIC LIMITED COMPANY

Net Asset Value • Jun 26, 2013

National Storage Mechanism | Additional information

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RNS Number : 8559H

Eleco PLC

26 June 2013

For release on 26 June 2013

Eleco plc

("Eleco" or the "Group")

The Construction Software and Building Systems Group

Result of AGM & Statement

Eleco plc announces that at the Annual General Meeting ("AGM") of the Group, held yesterday, all resolutions were duly passed. 

Executive Chairman, John Ketteley, makes the following statement:

"As I reported in the Group's results, which were announced on 15 May, 2013 the past five years have seen our UK and international software interests make good progress and grow substantially both in value and cash generation.  However, our UK building systems businesses experienced difficult trading and have consumed substantial cash resources. I observed that this had unbalanced the Group and placed it under considerable financial strain.

As a result, your Board has had to take a number of difficult decisions to deal with this situation, and I am pleased to say that a number of our recent actions are beginning to bear fruit, and as a consequence, in the absence of unforeseen circumstances we are becoming increasingly confident that Eleco will arrive at a position from which it should be able to make a full recovery.

The Group is represented by ElecoBuild© and ElecoSoft©.  ElecoBuild© is now wholly focused on our two precast concrete manufacturing businesses, Bell & Webster Concrete Ltd and Milbury Systems Ltd, under the ElecoPrecast© banner. ElecoSoft©, our profitable international construction software businesses, operates from Sweden, Germany and the United Kingdom".

For further information please contact:

Eleco plc	0207 422 0044
John Ketteley, Executive Chairman	http://www.eleco.com
Matthew Turner, Group Finance Director
Peckwater PR - Tarquin Edwards	0207 808 7340
Cenkos Securities plc - Adrian Hargrave	0207 397 8900

This information is provided by RNS

The company news service from the London Stock Exchange

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