Annual Report 2012

RNS Number : 0393B

Guinness Peat Group PLC

27 March 2013

 



GUINNESS PEAT GROUP PLC

("GPG" or the "Company")

Dissemination Announcement

ANNUAL REPORT 2012

The Annual Report of the Company for the year ended 31 December 2012 ("the 2012 Annual Report") is being placed on the Company's website at www.gpgplc.com and will shortly be posted to shareholders.  A copy of the 2012 Annual Report has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do.

Furthermore, the Group's Preliminary Announcement of Results for the year ended 31 December 2012 (the "Preliminary Announcement") was released to the market on 27 February 2013 and may also be viewed on the Company's website at www.gpgplc.com.  In addition to the Preliminary Announcement and the availability of the Company's 2012 Annual Report, GPG is making available to the market the following commentary on those additional matters required by the Disclosure and Transparency Regulations:

Risks and Uncertainties

Commentary on the Group's activities during 2012 and also on the outlook for 2013 are set out in the Chairman's Statement in the Preliminary Announcement and in the 2012 Annual Report. 

As mentioned in that report, GPG is a strategic investment holding company which is now following a strategy to realise value. The identification and consequent management of risk is an inherent feature of the investment evaluation process.

The Group's major operating subsidiaries at 31 December 2012 consist of CIC Australia Ltd ("CIC") and Coats plc ("Coats").  CIC produces its own Annual Report in which can be found a report on its business operations. 

As the Annual Report makes clear, it is the Board's intention that GPG will be re-launched as Coats as the various arrangements for the disposal of assets, return of value to shareholders and establishment of Coats as an independent business are completed.  With this in mind the 2012 Annual Report also includes a Business Review prepared by the Chief Executive of Coats together with Coats' Unaudited Financial Information.

The Company's Key Performance Indicators are contained in a table showing Movements in Shareholders' Funds, Elements of Reported Results for the year, Overhead Costs and Proceeds from Disposals from 1 January 2011 to 22 February 2013, all of which appear within the Chairman's Statement in the 2012 Annual Report.

Further information on GPG's principal risks and their management can be found in the Corporate Governance report in the 2012 Annual Report, under the headings "Internal Controls", "Business Review" and "Principal Risks and Uncertainties".  This includes commentary on the way the Group manages the risks inherent in its activities and those of its operating subsidiaries, including such matters as currency, interest rate, capital, market price, liquidity, credit, regulatory compliance, human resources, treasury and risks inherent in the operation of the Group's defined benefit pension schemes.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

27 March 2013

Enquiry details are:

New Zealand and Australian media:          Geoff Senescall on:            [phone]

UK media:                                                  Kevin Smith on:                  [phone]

 

END

 

 

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