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(Alliance News) - KRM22 PLC, a technology and software investment company focused on risk management for capital markets, on Thursday confirmed that trading continues to be is in line the updated provided at the start of April.
In response to the recent movement in its stock price, the company also said that it is in discussions with its shareholders and certain other investors regarding an equity fundraising or potential alternative financing.
These discussions remain ongoing and a further update will be made when appropriate, KRM22 added.
Shares in the company closed 40% lower at 25.00 pence each in London on Thursday.
In April, the company predicted average recurring revenue for 2020 to be significantly lower than management expectations and to be positive on adjusted earnings before interest, tax, depreciation and amortisation basis.
The company also had said that sales cycles for contracts was extending predominantly due to the high volatility in markets and virus outbreak.
By Tapan Panchal; tapanpanchal@alliancenews.com
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