Notice of AGM and Update re Proposed Dividend

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with Cavendish's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

 2 June 2025

Facilities by ADF plc

("Facilities by ADF", "ADF", the "Company" or the "Group")

Notice of Annual General Meeting

Update re Proposed FY24 Final Dividend

Facilities by ADF, the leading provider of premium serviced production facilities to the UK film and high-end television industry ("HETV") announces that the Group's Annual Report and Accounts for the year ended 31 December 2024 ("FY24") and Notice of Annual General Meeting ("AGM") will today be posted to shareholders and are available for download on the Company's website at www.facilitiesbyadf.com/investors/reports-presentations.

The AGM will be held at 11.00 a.m. on Wednesday, 25 June 2025 at Kitsmead Lane, Longcross, Lyne, Chertsey, KT16 0EF.

ADF announced on 6 May 2025 that the Board would be recommending a final dividend for FY24 of 0.9 pence per ordinary share in the Company ("Ordinary Shares") (the "Final Dividend"), which, if approved by ADF shareholders at the AGM, would take the total dividend for the year ended 31 December 2024 to an aggregate of 1.4 pence per Ordinary Share.

Trading in the current financial year remains in line with market expectations with activity levels expected to be weighted to the second half. The Board continues to expect the Company to be cash generative in the year ending 31 December 2025 ("FY25") with closing cash balances anticipated to be in line with current market expectations.

As previously announced on 6 May 2025, the timing of projects continues to be uncertain and the macro-economic environment has continued to evolve. Following feedback from, and consultation with a number of the Company's major shareholders, representing in aggregate in excess of 40 per cent. of the Company's issued ordinary share capital, the Board is now recommending a revised Final Dividend of 0.5 pence per Ordinary Share. (FY24 Interim Dividend: 0.5 pence per Ordinary Share). The total dividend for the year ended 31 December 2024 would amount to an aggregate of 1.0 pence per Ordinary Share.

Subject to the approval of ADF shareholders at the AGM, the Final Dividend will be paid on an unchanged date of 13 August 2025 to shareholders on the register at close of business on 25 July 2025.

The Board remains committed to the Group's progressive dividend policy in the longer term and, whilst the Company remains financially robust, the prudent approach to the Final Dividend will allow the Company to maintain maximum flexibility in the near term in what remains an evolving macro-economic environment.

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OVERVIEW OF FACILITIES BY ADF PLC

The Facilities by ADF Group is the leading provider of premium serviced production facilities along with location services and ground protection equipment to the UK film and high-end television (HETV) industry.

The Group serves customers in an industry that has experienced, notwithstanding the Strikes in 2023, significant growth in recent years, with additional demand driven by a material rise in the consumption of film and HETV content via streaming platforms such as Netflix, Disney+, Apple TV+ and Amazon Prime. The UK film and TV industry has directly benefited during this growth due to the quality of its production facilities and studios, highly skilled domestic workforce, geography, accessibility to Europe, English language environment and strong governmental support. Major US streaming companies have now set up permanent bases in the UK, with the UK now the film and TV industry's second largest operation after North America.

Facilities by ADF production fleet is made up of more than 700 premium mobile make-up, costume and artiste trailers, production offices, mobile bathrooms, diners, school rooms and technical vehicles.

To strengthen its position as a One-Stop-Shop for the Film and HETV industry, ADF acquired Location One Ltd, the UK's largest TV and film location service provider, in November 2022, and then further expanded in September 2024 by acquiring Autotrak Portable Roadways Ltd, a market leader in portable roadway solutions, diversifying the Group's offerings and customer base.