Annual Report and Notice of 2019 AGM
PayPoint plc (the ‘Company’)
19 June 2019
Publication of Annual Report and Notice of 2019 Annual General Meeting
The Company has today published its Annual Report and Financial Statements for the year ended 31 March 2019 (‘2019 Annual Report’) on its website http://corporate.paypoint.com/
In accordance with Listing Rule 9.6.1, the 2019 Annual Report and notice of Annual General Meeting will shortly be available for public inspection on the National Storage Mechanism (NSM) – Morningstar (www.morningstar.co.uk/uk/nsm).
The Company will hold its 2019 Annual General Meeting on Thursday, 25 July 2019 at 12 noon at the Company’s head office: PayPoint plc, 1 The Boulevard, Shire Park, Welwyn Garden City, Hertfordshire AL7 1EL.
In addition, following the release on 23 May 2019 of the Company’s preliminary results for the year ended 31 March 2019, which are also available at http://corporate.paypoint.com/, the Company makes the following additional disclosure in compliance with Rule 6.3.5R of the Disclosure and Transparency Rules of the UK Financial Conduct Authority. Together these constitute the information required to be communicated to the media in unedited full text through a Regulatory Information Service. This information is not a substitute for reading the full 2019 Annual Report and Financial Statements.
Related party transactions
Remuneration of the directors, who are the key management of the Group, was as follows during the year:
Revenue received from Drop and Collect Limited during the year totalled £11.3 million (2018: £15.1 million) and PayPoint held a trade debtor at year end of £0.6 million (2018: £0.4 million).
Directors’ remuneration is disclosed in the Annual Report on Remuneration on pages 65 to 81.
Statement of directors’ responsibilities in respect of the Annual Report and the Financial Statements
The 2019 Annual Report contains the following statements regarding responsibility for financial statements on page 85:
“The directors are responsible for preparing the Annual Report and the Group and parent Company financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare Group and parent Company financial statements for each financial year. Under that law they are required to prepare the Group financial statements in accordance with International Financial Reporting Standards as adopted by the European Union (IFRSs as adopted by the EU) and applicable law and have elected to prepare the parent Company financial statements on the same basis.
Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and parent Company and of their profit or loss for that period. In preparing each of the Group and parent Company financial statements, the directors are required to:
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the parent Company’s transactions and disclose with reasonable accuracy at any time the financial position of the parent Company and enable them to ensure that its financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Group and to prevent and detect fraud and other irregularities.
Under applicable law and regulations, the directors are also responsible for preparing a Strategic Report, Directors’ Report, Directors’ Remuneration Report and Corporate Governance Statement that complies with that law and those regulations.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Responsibility statement of the directors in respect of the annual financial report
We confirm that to the best of our knowledge:
We consider the annual report and accounts, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess the group’s position and performance, business model and strategy.
22 May 2019”
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Company Secretary, PayPoint plc
Tel: +44 (0)1707 600300