GlobalCapital plc - Interim Directors’ Statement

Monday, November 10th, 2014

On 7 November, GlobalCapital plc published its Interim Directors’ Statement to update the market on its performance and developments since 30 June. During the period under review, the Group continued to implement its strategy of focusing on revenue growth whilst reducing costs and ensuring long-term financial stability and profitability. In this respect, GlobalCapital strengthened its life and health insurance businesses whilst also maintaining its intention to discontinue its investment and advisory services subject to regulatory approval.

The announcement also noted that revenues from the Group’s life and health insurance sectors continued to register improvements. Similarly, the Company’s performance was also aided by the continued improvement, albeit somewhat volatile, in the overall financial market performance.

Going forward, the Group is expected to maintain its focus on the implementation of its transformation strategy.

In a separate company announcement, GlobalCapital plc announced that it bought back and subsequently cancelled €1.52 million of its outstanding 5.6% bonds which mature on 2 June 2016.

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