AMO.L Regulatory News (AMO)

AMINO TECHNOLOGIES PLC

("Amino", the "Company" or the "Group")

Covid-19 Update, Dividend and AGM

Amino Technologies plc (LSE AIM: AMO), the global provider of media and entertainment technology solutions to network operators, announces the following update in light of Covid-19.

Covid-19 update

Our number one priority is the safety of our people, business partners and customers. We have implemented parts of our business continuity plan to enable all our global staff to work remotely. The measures we have taken have ensured that service delivery and customer support has continued as normal, while also carrying out our duty of care for our staff, customers, partners and their families. Our Hong Kong office has been operating in this mode for more than two months.

We are now enabling our customers to meet this latest disruptive challenge. Our teams are working diligently to ensure that our video streaming services and apps keep up with increased usage. In addition, we are supporting our customers with tools and services that can help with social distancing. These comprise solutions that can remotely manage, support and install devices in the home and which therefore remove the need for engineers to visit the home.

We reported on 27 February, when we announced our results for the year ended 30 November 2019, that factories in China were closed for longer than usual over the Lunar New Year holiday. Following the resumption of production on 10 February at a reduced capacity, production is now back to normal levels, albeit with challenges resulting from the irregular flow of raw materials in the region. Clearly, the outlook for the Group's financial performance for the remainder of the financial year is uncertain due to the disruption now seen in the economies of the countries in which our customers operate caused by the Covid-19 pandemic

The Group has a strong balance sheet and robust liquidity. The Board is taking a prudent approach to preserve the Group's liquidity and cash position, including the suspension of dividends until market conditions stabilise. The Group has gross cash as of the date of this announcement of c.$3.2 million, drawn credit facilities of approximately $4.5 million and undrawn credit facilities of $10.5 million.

Our successful ongoing shift to a software and services model underpins the Board's confidence in our long-term strategy and opportunity.

Dividend and AGM resolution 3

On 27 February the Board recommended a full year dividend of 7.32 GBP pence per share for the year ended 30 November 2019 meaning that a final dividend of 5.637 GBP pence per ordinary share was subject to shareholder approval at the Company's AGM on 2 April 2020, an interim dividend of 1.683 GBP pence having been paid in August 2019. This recommendation was made at a time when it was not possible to foresee the impact of Covid-19 on the economies of the countries in which our customers operate. The Board no longer recommends the payment of the final dividend and therefore is withdrawing AGM resolution 3. This will result in the retention of approximately $5.3 million in cash within the business.

AGM

In light of the Covid-19 pandemic and travel restrictions imposed by the UK Government, the Directors intend to adjourn the AGM so that it can be held, with the minimum number of physical attendees, in a manner consistent with these restrictions. A further announcement will be made in due course as to the time and place of the adjourned AGM.

In normal circumstances, the Board values greatly the opportunity to meet shareholders in person. However, it supports fully the recent UK Government requirements for people to avoid both mass gatherings and all non-essential travel and social contact. On this basis, the Board has concluded that it is appropriate to strongly urge shareholders NOT TO ATTEND THE AGM (INCLUDING THE ADJOURNED AGM) IN PERSON this year as to do so would be inconsistent with current Government restrictions and, instead, to submit proxy votes.

Our AGM format this year will be purely functional in format to comply with the relevant legal requirements. Any Board members attending the meeting will not meet with shareholders individually.

To vote at the AGM by proxy, shareholders can either use a hard copy proxy form available directly from the registrars or vote electronically using the Share Portal Service via www.signalshares.com. To vote online shareholders will need to enter their surname, investor code and postcode. Please note that the deadline for receiving proxy forms (including any submitted electronically) is 48 hours before the time appointed for holding the AGM (or any adjournment thereof). Shares held in uncertificated form (i.e. in CREST) may be voted through the CREST Proxy Voting Service in accordance with the procedures set out in the CREST manual.

Proxy forms submitted in connection with the AGM will continue to be valid in respect of any adjournment unless they are specifically withdrawn or replaced.

Voting by proxy prior to the meeting does not affect your right to attend, speak and vote at the meeting in person, should you so wish, but as indicated above, shareholders are strongly discouraged from attending this year's AGM (including the adjourned AGM) in person.

The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

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About Amino Technologies plc

Amino Technologies plc is a new breed of Media Tech business, focused on enabling operators to meet the challenge of the rapidly converging worlds of broadcast and next-generation streaming services. We believe the operators that will succeed will be those that allow consumers to control how, when and where they "watch TV" and consume video. The smart operator will enable each consumer to define what TV means to them.

It is our mission to anticipate the technological and consumer behavioural trends so that we can keep on creating the solutions that enable operators and media companies to drive growth in engagement and profitability while embracing the inevitable disruption to the video market. The Group meets these challenges through combining its award-winning IP/cloud platforms and deep deployment expertise to create solutions that enable our customers to design and deliver innovative and profitable next-generation video experiences.

Amino Technologies plc consists of two operating companies providing transformational media experiences: Amino Communications, with TV-centric solutions and 24i, focused on streaming and OTT experiences.

Since foundation, Amino Technologies has been committed to the power of IP and how it transforms the TV experience. Our commitment is to harness the most relevant technologies and actionable data to continually create the very best video platforms and experiences.

24i and Amino Communications are subsidiaries of Amino Technologies PLC which is listed on the London Stock Exchange Alternative Investment Market (AIM: symbol AMO), headquartered in Cambridge, Amino has offices in New York, Los Angeles, San Francisco, Amsterdam, Helsinki, Madrid, Porto, Brno and Hong Kong. For more details, visit https://investor.aminocom.com/