Last checked at 25 Mar 2020 07:00
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR")
25 March 2020
Biome Technologies plc
("Biome", "the Company" or "the Group")
Update re Final Results, 2019 Annual Report and AGM
Due to the unprecedented situation arising from the COVID-19 pandemic, the Financial Conduct Authority ('FCA') has requested that all companies listed on the main market of the London Stock Exchange, due to publish their preliminary results around this time, observe a moratorium on the publication of their preliminary results for at least two weeks. The Financial Reporting Council ('FRC') has also supported this and encouraged listed companies and their auditors to also consider carefully whether they should delay other corporate reports for the next two weeks.
Biome's shares are admitted to trading on AIM and not listed on the main market. However, following input from the Group's auditors, Grant Thornton UK LLP, the Board is falling in line with the guidance from the FCA and the FRC and is delaying the publication of its final results for the year ended 31 December 2019 and audited annual report, previously scheduled for 26 March 2020, until such time as the FCA and FRC have provided clearer guidance.
The Group's results for the year ended 31 December 2019 remain in line with the guidance given in the trading statement of 30 January 2020, based on the Company's unaudited management accounts. The Board will provide further guidance in relation to the outlook for the year ending 31 December 2020 and beyond when the final results are published.
Owing to government instructions to avoid social contact the Group is delaying its Annual General Meeting from the planned date of 23 April 2020 to a date in June that is to be confirmed, when it is hoped the current restrictions will be lifted. An announcement in this respect will be made in due course.
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For further information please contact: Biome Technologies plc | |
Paul Mines, Chief Executive Officer | |
Declan Brown, Group Finance Director | |
www.biometechnologiesplc.com | Tel: +44 (0) 2380 867 100 |
Allenby Capital | |
David Hart/Alex Brearley (Nominated Adviser) Kelly Gardiner (Broker) | |
www.allenbycapital.com | Tel: +44 (0) 20 3328 5656 |
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About Biome
Biome Technologies plc is an AIM listed, growth-orientated, commercially driven technology group. Our strategy is founded on building market-leading positions based on patented technology and serving international customers in valuable market sectors. We have chosen to do this by developing products in application areas where the value-added pricing can be justified and that are not reliant on government legislation. These products are driven by customer requirements and are compatible with existing manufacturing processes. They are market rather than technology-led.
The Group comprises two divisions, Biome Bioplastics Limited and Stanelco RF Technologies Limited. Biome Bioplastics is a leading developer of highly-functional, bio-based and biodegradable plastics. The company's mission is to produce bioplastics that challenge the dominance of oil-based polymers. Stanelco RF Technologies designs, builds and services advanced radio frequency (RF) systems. Dielectric and induction heating products are at the core of a product offering that ranges from portable sealing devices to large furnaces for the fibre optics markets
www.biometechnologiesplc.com
www.biomebioplastics.com and www.thinkbioplastic.com
www.stanelcorftechnologies.com