Response to Shareholder Letter
Board responds to shareholder letter; reiterates capital return target and operational priorities.
vs expectations: in line
- Capital return target up to €150m
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Dublin, London 24 June 2024: The Board of C&C Group plc (the "Company" or "C&C") notes the open letter published today from Engine Capital LP ("Engine"), a shareholder in the Company.
The Board welcomes feedback from all shareholders and has a clear focus on creating shareholder value.
As set out in the recent FY24 year-end results update, the underlying performance of the business has been in line with expectations, and progress has been made in returning capital to shareholders. Operationally, the key priority is to deliver the substantial actions currently being progressed at pace throughout the business, driving forward both Brand and Distribution revenue, improving margin, while returning up to €150m by the end of FY27.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.