TIDMPAY 
 
 
   PayPoint plc (the 'Company') 
 
   19 June 2019 
 
   Publication of Annual Report and Notice of 2019 Annual General Meeting 
 
   The Company has today published its Annual Report and Financial 
Statements for the year ended 31 March 2019 ('2019 Annual Report') on 
its website http://corporate.paypoint.com/ 
 
   In accordance with Listing Rule 9.6.1, the 2019 Annual Report and notice 
of Annual General Meeting will shortly be available for public 
inspection on the National Storage Mechanism (NSM) -- Morningstar 
(www.morningstar.co.uk/uk/nsm). 
 
   The Company will hold its 2019 Annual General Meeting on Thursday, 25 
July 2019 at 12 noon at the Company's head office: PayPoint plc, 1 The 
Boulevard, Shire Park, Welwyn Garden City, Hertfordshire AL7 1EL. 
 
   In addition, following the release on 23 May 2019 of the Company's 
preliminary results for the year ended 31 March 2019, which are also 
available at http://corporate.paypoint.com/, the Company makes the 
following additional disclosure in compliance with Rule 6.3.5R of the 
Disclosure and Transparency Rules of the UK Financial Conduct Authority. 
Together these constitute the information required to be communicated to 
the media in unedited full text through a Regulatory Information 
Service. This information is not a substitute for reading the full 2019 
Annual Report and Financial Statements. 
 
   Related party transactions 
 
   Remuneration of the directors, who are the key management of the Group, 
was as follows during the year: 
 
 
 
 
                     Year ended      Year ended 
                    31 March 2019   31 March 2018 
                   --------------  -------------- 
                       GBP000          GBP000 
-----------------  --------------  -------------- 
Short term 
 benefits and 
 bonus(1)                   1,630           2,579 
-----------------  --------------  -------------- 
Pension costs(2)              127             234 
-----------------  --------------  -------------- 
Long term 
 incentives(3)                648             445 
-----------------  --------------  -------------- 
Other(4)                       70              29 
-----------------  --------------  -------------- 
Total                       2,475           3,287 
-----------------  --------------  -------------- 
 
   1. Includes salary, fees, benefits in kind and annual bonus. 
 
   2. Defined contribution pension scheme. 
 
   3. Long term incentives: includes the value of 2016 LTIP and DABS 
expected to vest after the year end (2018: 2015 DSB and LTIP awards). 
 
   4. SIP matching and dividend shares awarded in the year. 
 
   Revenue received from Drop and Collect Limited during the year totalled 
GBP11.3 million (2018: GBP15.1 million) and PayPoint held a trade debtor 
at year end of GBP0.6 million (2018: GBP0.4 million). 
 
   Directors' remuneration is disclosed in the Annual Report on 
Remuneration on pages 65 to 81. 
 
   Statement of directors' responsibilities in respect of the Annual Report 
and the Financial Statements 
 
   The 2019 Annual Report contains the following statements regarding 
responsibility for financial statements on page 85: 
 
   "The directors are responsible for preparing the Annual Report and the 
Group and parent Company financial statements in accordance with 
applicable law and regulations. 
 
   Company law requires the directors to prepare Group and parent Company 
financial statements for each financial year. Under that law they are 
required to prepare the Group financial statements in accordance with 
International Financial Reporting Standards as adopted by the European 
Union (IFRSs as adopted by the EU) and applicable law and have elected 
to prepare the parent Company financial statements on the same basis. 
 
   Under company law the directors must not approve the financial 
statements unless they are satisfied that they give a true and fair view 
of the state of affairs of the Group and parent Company and of their 
profit or loss for that period. In preparing each of the Group and 
parent Company financial statements, the directors are required to: 
 
 
   -- select suitable accounting policies and then apply them consistently; 
 
   -- make judgements and estimates that are reasonable, relevant and reliable; 
 
   -- state whether they have been prepared in accordance with IFRSs as adopted 
      by the EU; 
 
   -- assess the Group and parent Company's ability to continue as a going 
      concern, disclosing, as applicable, matters related to going concern; and 
 
   -- use the going concern basis of accounting unless they either intend to 
      liquidate the Group or the parent Company or to cease operations, or have 
      no realistic alternative but to do so. 
 
 
   The directors are responsible for keeping adequate accounting records 
that are sufficient to show and explain the parent Company's 
transactions and disclose with reasonable accuracy at any time the 
financial position of the parent Company and enable them to ensure that 
its financial statements comply with the Companies Act 2006. They are 
responsible for such internal control as they determine is necessary to 
enable the preparation of financial statements that are free from 
material misstatement, whether due to fraud or error, and have general 
responsibility for taking such steps as are reasonably open to them to 
safeguard the assets of the Group and to prevent and detect fraud and 
other irregularities. 
 
   Under applicable law and regulations, the directors are also responsible 
for preparing a Strategic Report, Directors' Report, Directors' 
Remuneration Report and Corporate Governance Statement that complies 
with that law and those regulations. 
 
   The directors are responsible for the maintenance and integrity of the 
corporate and financial information included on the Company's website. 
Legislation in the UK governing the preparation and dissemination of 
financial statements may differ from legislation in other jurisdictions. 
 
   Responsibility statement of the directors in respect of the annual 
financial report 
 
   We confirm that to the best of our knowledge: 
 
 
   -- the financial statements, prepared in accordance with the applicable set 
      of accounting standards, give a true and fair view of the assets, 
      liabilities, financial position and profit or loss of the Company and the 
      undertakings included in the consolidation taken as a whole; and 
 
   -- the directors' report which also incorporates the strategic report 
      includes a fair review of the development and performance of the business 
      and the position of the issuer and the undertakings included in the 
      consolidation taken as a whole, together with a description of the 
      principal risks and uncertainties that they face. 
 
 
   We consider the annual report and accounts, taken as a whole, is fair, 
balanced and understandable and provides the information necessary for 
shareholders to assess the group's position and performance, business 
model and strategy. 
 
   Rachel Kentleton 
 
   Finance Director 
 
   22 May 2019" 
 
   - End - 
 
   Enquiries: 
 
   Susan Court 
 
   Company Secretary, PayPoint plc 
 
   Tel: +44 (0)1707 600300 
 
 
 
 

(END) Dow Jones Newswires

June 19, 2019 11:24 ET (15:24 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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