11 Aug 2017 16:27
11 August 2017
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
CSF Group plc
("CSF", the "Company" or the "Group")
Statement re share price movement
The Board of CSF (the "Board") notes the recent rise in the Company's share price.
The Board confirms that there have been no material contract wins or losses since 31 March 2016. The Board is not aware of any other material new developments in terms of the Company's key performance indicators or the Group's trading, business or outlook since the Company's half year results for the six months ended 30 September 2016. The Group's performance since 30 September 2016 has been in line with management's expectations.
The Board expects that the Company's full year results for the year ended 31 March 2017 will be announced towards the end of September 2017.
Following the Company's shareholders rejecting the Board's proposal to cancel trading of the Company's shares on AIM last year, the Board has been considering a number of options for the Group. These include the possible disposal of one of the Company's operating subsidiaries and the Group is currently in discussions with interested parties, although the Group has not reached any definitive offer or agreement with respect to any potential disposal and there can be no certainty that any discussions will lead to a transaction, or the terms on which any transaction might be agreed, or its timing. Amongst other things, any potential disposal will need to be undertaken in accordance with the AIM Rules for Companies and other applicable regulations.
Any potential disposal would be in line with the ongoing internal review of the Group's assets and subsidiaries in order to examine alternative operating structures for the Group's overall business, as noted in the Company's half year results for the six months ended 30 September 2016 which were announced on 8 December 2016. The Company will update shareholders with further information as and when appropriate.
The Board is not aware of any other possible reason for the share price movement.
For further information, please contact:
CSF Group Phil Cartmell, Chairman
| +603 8318 1313 |
Allenby Capital (Nominated Adviser and Broker) Nick Naylor / Alex Brearley
| +44 (0) 20 3328 5656 |