Last checked at 10 Aug 2021 07:00
For immediate release | 10 August 2021 |
Fletcher King plc
("Fletcher King" or the "Company")
Trading Update
Notice of Results
Fletcher King plc (AIM: FLK) provides the following trading update and notice of results.
The Company reported a loss before tax of £447,000 for the six months to 31 October 2020 and in its announcement of 3 March 2021 stated that it believed that losses for the second half of the year would potentially be similar to the first half.
The Company confirms that it expects overall losses for the second half to be broadly similar to the first half, subject to audit verification. The Company plans to announce results for the year ended 30 April 2021 in the second half of September.
On 2 July 2021, the Company noted recent press speculation regarding a potential purchase of existing shares, issue of new shares (together, constituting no more than 29.99% of the Company's issued share capital) and new board appointments (the "Potential Transaction") involving Elliott Bernerd. Discussions remain ongoing and there can be no certainty that the Potential Transaction will proceed. The Board will provide further updates in due course.
After a very difficult trading period, the Company has started the new financial year with a more optimistic outlook. Clients are engaging more positively in investment activity and the Company is hopeful of securing a pick-up in transaction fee income.
The Company remains well supported by a strong balance sheet with no debt.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
- Ends -
For further information, please contact:
|
|
Fletcher King plc | Tel: +44 (0) 20 7493 8400 |
David Fletcher, Chairman Peter Bailey, Finance Director |
|
|
|
Cairn Financial Advisers LLP | Tel: +44 (0) 20 7213 0880 |
(Nominated Adviser) |
|
James Caithie Liam Murray |
|
| |
Buchanan |
|
Henry Harrison-Topham Jamie Hooper Tilly Abraham | Tel: +44 (0) 20 7466 5000 fletcherking@buchanan.uk.com |
Forward Looking Statements
Certain statements in this announcement are forward-looking statements relating to the Company's operations, performance and financial position based on current expectations of, and assumptions and forecasts made by, management. They are subject to a number of risks, uncertainties and other factors which could cause actual results, performance or achievements of the Company to differ materially from any outcomes or results expressed or implied by such forward-looking statements. Undue reliance should not be placed on such forward looking statements. They are made only as of the date of this announcement and no representation, assurance, guarantee or warranty is given in relation to them including as to their accuracy, completeness, or the basis on which they are made.