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OPERATING AND FINANCIAL REVIEW / INVESTOR RELATIONS
To view our financial calendar, please click here
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| OUR APPROACH TO INVESTOR RELATIONS |
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We seek to achieve good levels of transparency
in communications about our business and its
operational and financial performance, so that
current and future investors and analysts can
make informed judgements.
We seek to communicate with existing and
potential investors, whether they be institutional
or private investors, in the most appropriate
and effective manner.
We listen to shareholder views on our business
and its direction so that we can answer or
address those issues in our communications
or in the management of the Company.
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| SHAREHOLDER BASE |
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Over the last five years our shareholder base
has changed, with UK institutional investors
replacing a number of specialist investors which
had invested widely across the Lloyd’s insurance
sector during the 1990s. Whereas nine out of
the top 20 shareholders were conventional
UK institutions in 2000, this figure had
increased to 18 by the end of 2004. Over
this period, the proportion of the Company
owned by the largest 20 shareholders has
decreased marginally.
AMLIN SHARE REGISTER (31 December 2004)
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| By type of investor |
Number of
holdings |
% |
Number of
shares |
% |
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| Current directors (and connected persons) |
11 |
0.45 |
3,309,459 |
0.84 |
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| Other individuals |
1,006 |
41.50 |
19,286,182 |
4.88 |
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| Employee Share Ownership Trust |
2 |
0.08 |
4,229,734 |
1.07 |
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| Corporate and institutional |
1,405 |
57.96 |
368,263,963 |
93.21 |
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| By size of investment |
Number of
holdings |
% |
Number of
shares |
% |
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| Up to 50,000 |
2,094 |
86.39 |
15,509,394 |
3.93 |
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| 50,001 to 100,000 |
98 |
4.04 |
6,792,826 |
1.72 |
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| 100,001 to 500,000 |
141 |
5.82 |
32,265,922 |
8.17 |
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| 500,001 to 1,000,000 |
34 |
1.40 |
24,369,624 |
6.17 |
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| 1,000,001 to 5,000,000 |
41 |
1.69 |
85,352,911 |
21.60 |
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| 5,000,001 to 10,O00,000 |
10 |
0.41 |
72,815,948 |
19.44 |
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| OVER 10,000,000 |
6 |
0.25 |
153,982,983 |
38.97 |
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2,424 |
100.00 |
395,089,608 |
100.00 |
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At 31 December 2004, we had 2,424
shareholders, up from 1,448 five years
earlier and 2,063 a year earlier. Institutional,
corporate and other nominee shareholders
owned 94% of Amlin’s issued shares and
private shareholders registered in their
own names owned the balance of 6%.
An estimated 20% of Amlin’s employees are
shareholders in addition to their participation
through share options.
We provide regular updates of our substantial
shareholders (those who hold 3% or more of
Amlin’s shares) on our website.
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| SHAREHOLDER AND BROKER ANALYST CONTACT |
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During 2004, the Chief Executive and / or
Finance Director met with over 80 existing or
potential institutional investors in the UK,
Europe and the United States. They also
visited some 19 private client brokers and fund
managers.
We held presentations for broker analysts on
the days of the release of our annual and half
year results statements. We are aware of nine
analysts publishing notes on Amlin during
2004 and the names of analysts and their
firms are provided on our website. For the last
two years we have webcast these presentations
so that all investors may access the information
simultaneously. Webcast log-in details are
available on our website at least seven days
prior to results announcements.
We also held a series of meetings involving
nine institutional shareholders, Amlin’s
Chairman, the Chief Executive and a number
of non-executive directors, so that shareholders
and members of the Board could exchange
views on the Company’s strategy and approach
to corporate governance.
A survey covering 16 institutional investors
was carried out in December 2004 so that
the Board could objectively assess views and
perceptions covering a range of issues, from the
quality of management to satisfaction with the
level and standard of communication. This
was conducted by an independent consultant,
Cubitt Consulting, who carried out a similar
survey for us in 2003. Summary findings of the
survey are illustrated in the following charts.
The Board also received anonymous feedback
from our broker, Hoare Govett Limited, of views
expressed by shareholders following our 2003
results and 2004 interim results presentations.
We were pleased with the level of positive and
constructive feedback.
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| ANNUAL REPORT AND OTHER COMPANY INFORMATION |
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Our annual report and accounts are an
important means of communicating with
shareholders and over the past four years
we have sought to provide increasing levels
of meaningful information on the Company.
Our aim is to provide an objective and fair
view of the performance and prospects for
the Company.
We complement our annual and interim reports
with information on our website which includes
details of press releases and other updates.
We provide e-mail alerts to investors and
others who like to receive notification of
press releases. During 2005 we will be
relaunching an improved website with
increased information.
For those shareholders who would prefer
to receive our Annual and Interim Reports
electronically, we provide a facility on our
website to register for this option. This may
be convenient to some shareholders and
potentially reduces paper usage and costs.
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| 2005 ANNUAL GENERAL MEETING (‘‘AGM’’) |
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Our AGM will be held in London, at the
Company’s offices, at noon on 18 May
2005 and we welcome all shareholders.
In accordance with best practice we provide
an update presentation at this meeting on
Amlin’s progress. The meeting also provides
an opportunity for shareholders to ask
the directors questions both in the
formal environment of the AGM, and
informally afterwards.
For the first time this year shareholders will be
able to submit their proxy votes electronically if
they so wish. Details of how to do this are
included in the AGM circular and on the form
of proxy.
The results of proxy voting will be made
available on our website immediately after the
meeting.
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| SHARE DEALING |
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The Company’s shares are listed on the London
Stock Exchange. Prices are given daily in
newspapers including the Financial Times,
The Times, Daily Telegraph, Independent
and Evening Standard.
Hoare Govett Limited offers a low cost dealing
service, which enables UK resident investors to
buy or sell Amlin shares. For further
information please call Hoare Govett Limited
on 020 7678 8300 on business days between
08:00 and 16:30 or find the relevant form
together with further details on our website.
Hoare Govett Limited is authorised by the
Financial Services Authority.
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We are happy to answer queries from current and
potential shareholders and to provide those who
do not receive it ordinarily with a copy of our
Annual Report.
Typical enquiries which we can answer include:
- Information regarding the base costs of shares,
which may be useful for capital gains tax purposes
- Enquiries regarding share registration
- Dividend history
For certain enquiries, for example regarding share
registration, you may alternatively contact our
Registrar, Computershare Investor Services Plc,
on 0870 702 0000.
Amlin PLC
St Helen’s, 1 Undershaft,
London
EC3A 8ND
Tel: 020 7746 1111
Fax: 020 7746 1696
Email: investor.relations@amlin.com
Website: www.amlin.com
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To view our financial calendar, please click here
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