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 [email protected] in the first instance.

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Friday 17 May, 2002


AGM Statement

17 May 2002

17 May 2002

                                    IMI plc
                             ANNUAL GENERAL MEETING

IMI plc, the major international engineering Group, is holding its 2002 Annual
General Meeting at 12 noon today. At the meeting Gary Allen, Chairman, will be

'Our results for 2001 reflected operationally the demanding market conditions
and strategically our determination to restructure and reposition IMI.

In our major markets, the US downturn was evident throughout the year and Europe
declined markedly in the second half. All our businesses were managed robustly
with strong emphasis on delivering cash. Despite lower underlying volumes and
reduced profit we produced operating cash flow of £182m (before rationalisation
and restructuring costs) an increase of £22m over the previous year.

As a result of the strategy review, we embarked on a major restructuring of the
Group, requiring changes of both the portfolio and the operations of the
retained businesses.

The portfolio restructuring made steady progress with £45m spent on acquisitions
and £53m realised from disposals. Those businesses currently within Building
Products which have been earmarked for future disposal, produced good profit and
cash in 2001. So far this year, these businesses overall have continued to
perform well, particularly Polypipe.

Changes to our operations are being made through an £80m programme of
rationalisation and restructuring with the focus on reducing our operational
cost base and improving our market-facing infrastructure. We had committed £45m
to these measures by the end of 2001, and expect the balance of £35m to be
substantially concluded by the end of this year. The benefits arising from these
initiatives to date are in line with our expectations. Half of the savings
arising from this restructuring will be reinvested to stimulate future growth.

The interim dividend paid in October 2001 was maintained at 6.0p and the Board
is recommending the payment of an unchanged final dividend of 9.5p, making a
total of 15.5p for the year.

In the current year to date, trading has generally been much as anticipated.
Volumes have started to recover from the lows of the fourth quarter of last year
and there is more quotation and enquiry activity. It is too early to judge the
extent to which this will impact on volume improvements later in the year. We
reported in March that cost savings arising from the restructuring were coming
through strongly and I am pleased to report that this trend is continuing.

It is our intention to issue a trading update on June 20 in which we will
comment in more detail on current trading.'

                                    - ENDS -

For further information please contact:

IMI plc
Graham Truscott, Corporate Communications                      0121 356 4848

Weber Shandwick Square Mile
Ben Padovan                                                    020 7950 2800

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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