Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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Friday 11 May, 2001


AGM Statement

11 May 2001

11 May 2001

                           CHAIRMAN'S AGM STATEMENT

IMI plc, the major international engineering group, held its thirty-ninth
Annual General Meeting at 12 noon today. At the meeting Sir Eric Pountain,
Chairman, commented:

'Our results for 2000 are set out in the Annual Report. Very briefly, we faced
a difficult trading environment during 2000 and we were pleased to be able to
report increased sales, profit and earnings per share. Your Board is
recommending an increased final dividend in respect of 2000 of 9.5p, raising
the total dividend for the year to 15.5p.

In our preliminary results announcement we reported that trading in the early
months of 2001 was challenging and this continues to be the case.

In Hydronic Controls, the important German construction market has continued
to weaken, affecting sales of copper tube, fittings and radiator valves.
Margins in Polypipe Building Products are improving but other Polypipe
businesses still face difficult conditions.

In Drinks Dispense, while volumes in the US to date are lower than last year,
markets generally are improving and we are benefiting from a lower cost base.
Our Cannon business continues to enjoy a positive trading environment.

Fluid Power sales in the US, accounting for around 25% of its total sales, are
well down on last year, especially in the automotive and commercial vehicle
sectors. However, demand in Europe and Asia remains encouraging, with only
limited evidence to date of any adverse impact from the slowing US economy.

In Energy Controls, our severe service valves business is experiencing strong
demand, boosted by the investment required to meet an acute shortage in power
generation capacity, particularly in the US. We have increased our costs in
sales and engineering which, whilst impacting margins in the short term, will
enable us to take full advantage of what is undoubtedly an exciting long term

When we announced our results in March, Martin Lamb referred in his statement
to a strategy review. This review is making good progress. A number of our
businesses offer excellent potential for growth and this will be enhanced
through accelerated investments in marketing and technology. Profit
improvement will also come through a restructuring of our cost base. The first
round of that restructuring is now underway, part of a major programme that
will see rationalisation costs of around £40 million this year, and £20
million next year. We will be adding to our market position in the chosen
businesses through acquisition, financed, in part, by selective disposals in
other areas.

In the interests of keeping shareholders informed and in line with best
practice, we intend in future to issue a trading update in June and December
each year. This will be released through the London Stock Exchange and will
also be published on the IMI web site (

Today I retire as Chairman of IMI and am delighted to be handing over to Gary
Allen. I wish both him and our new Chief Executive, Martin Lamb success in
their new roles. I am sure the Company will continue to progress under their

Issued by:
Ben Padovan
Weber Shandwick Worldwide                            020 7329 0096