The annual general meeting of GlobalCapital plc held at the Hilton Business Centre, Malta, approved the group’s 2006 audited financial statements and the payment of a gross dividend of six cents per share, which included a final ordinary gross dividend of one cent per share together with a special gross dividend of five cents per share.

This approved dividend is further to the interim dividend of 1c5 gross paid in August 2006.

Christopher J. Pace, chairman of GlobalCapital said “2006 was once again a successful year and reflects the group’s continued focus in achieving positive results for our shareholders. Our dividend policy remains one whereby we share our success with our shareholders while at the same time ensuring that we can fund further growth and development of the group.”

Mr Pace added “2006 was also marked by two major activities for the group. On the one hand we had the high-profile re-branding exercise and on the other, a successful EUR17 million bond issue which was over-subscribed in just two hours. We are now looking ahead and working hard to ensure that 2007 is yet another successful year.”

During the AGM, a presentation was given by chief executive officer, Nicholas Portelli, who gave an overview of the business operations in 2006 and the vision for the years to come. In particular, the presentation emphasised on the most recent developments within the group’s property division. An audio-visual presentation was shown giving a run-through of the main property projects in which the group has invested, both locally and overseas.

“Our commitment remains that of creating value and growth for our shareholders. This is being achieved through constant diversification of the business and increasing the revenue streams for the group. The property division is one clear example of this diversification process which in 2006 contributed significantly to the results of the group. In this sector, we are very well-positioned to achieve similar results in the coming years. At the same time, our focus is that of strengthening our core operations which are based on three main business pillars – investments, insurance and property” said Mr Portelli.

The AGM also re-confirmed Christopher J. Pace, Muni Krishna T. Reddy Gosk, Dawood A. Rawat, Andrew Borg Cardona, James Blake Gary Marshall and Nicholas Ashford-Hodges as directors of the company.