Savills Regulatory News (SVS)

10 May 2006 12:21

Savills PLC10 May 2006 10 May 2006 AGM STATEMENT At today's Annual General Meeting of Savills plc, the international propertyadviser, Chairman, Peter Smith said: "Since the announcement of the results made at the beginning of March, the Grouphas, overall, performed in line with our expectations and ahead of the sameperiod last year. Our UK Commercial property business made a good start to the year withinvestment markets remaining buoyant. Prime residential markets are strong withparticularly high levels of sales in London. Transactional markets in AsiaPacific and Europe had a slower start to the year but remain active and ourpresence in Korea is developing well. Our Consultancy and Property Managementbusinesses continue to grow and Financial Services has performed well. TheBoard currently remains confident that the full year will produce a satisfactoryoutturn." A separate regulatory announcement outlining the special business passed at theAnnual General Meeting will be made. Of note was the passing by shareholders ofthe resolution that the existing ordinary share capital of the company be split.Each existing 5 pence ordinary share will be divided into two new ordinaryshares of 21/2 pence each. The share split will become effective on admission of the New Ordinary Shares tothe Official List, which is expected to be at 8.00 am tomorrow (11 May 2006). Asoutlined to shareholders, it is expected that each New Ordinary Share will beapproximately one half of the market price of an existing ordinary share(subject of course to market movement). This reflects the fact that shareholderswill own twice as many ordinary shares in the Company. ENDS For further information, please contact: Savills plc (020 7409 9923)Aubrey Adams Citigate Dewe Rogerson (0207 638 9571)Simon RigbySarah Gestetner Notes to editors: Savills plc is a leading international property services company with a fulllisting on the London Stock Exchange. The company has undergone dynamic growthin recent years establishing itself as a powerful player on the internationalstage with offices and associates throughout the UK, Europe, Asia Pacific andAfrica. In addition, Savills' strategic alliance with top US full service realestate advisory company, Trammell Crow Company, in North America, means thatclients have access to a network of offices in the US and Canada. Savills is thetrading name for the property service subsidiaries of Savills plc which adviseon commercial, rural, residential and leisure properties. Other servicesinclude corporate finance advice, fund management and a range of propertyrelated financial services. This information is provided by RNS The company news service from the London Stock Exchange