GlobalCapital plc - Interim Directors’ Statement

Monday, November 16th, 2015

On 16 November, GlobalCapital plc published its Interim Directors’ Statement updating the market on its performance since the publication of its interim results as at 30 June 2015.

The Directors explained that the transformation strategy aimed at generating revenue growth, reducing operational costs and ensuring long-term financial stability is generating the desired results for the Group allowing the positive performance to continue throughout the reporting period. In fact, the business registered by the Company’s life insurance subsidiary, GlobalCapital Life Insurance Limited, registered growth during the first nine months of 2015. The results of the health insurance agency remained in positive territory with both revenues and costs in line with the prior year. The investment company registered a decrease in its fees, which was however more than offset by the reduction in the company’s cost base. Moreover, further action has been taken in relation to the divestment of the Group’s local property portfolio in order to bring the overall property exposure in line with the Board’s expectations.

In mid-September, GlobalCapital had announced that EIP plc was still intent to support the Company in any capital increases. Consequently, it is the Directors’ intention to call for an increase in the Company’s issued share capital during the early course of 2016.

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