28 Oct 2013 07:00
FOR IMMEDIATE RELEASE | Monday, 28 October 2013 |
Globo Plc ('Globo' or 'the Group')Publication of additional information relating to
working capital and the disposal of Globo Technologies
Over the past week, Globo has participated in three Private Investor presentation events during which it received several questions relating to working capital and the mechanics and impact of the disposal in December 2012 of 51 per cent of its Greek subsidiary, Globo Technologies S.A. ("GT").
The presentations followed a successful placing, supported by International and UK institutional investors, to raise £24 million of equity to accelerate the Group's expansion plans.
Globo's published annual accounts have been audited thoroughly and contain all the disclosures required by International Financial Reporting Standards (IFRS). Nevertheless, the Board believes that providing further insights into working capital movements and the mechanics and impact of the disposal of GT will enable investors to gain a fuller understanding of the Group accounts.
The Board of Globo attaches the highest importance to transparency in its communications with the financial community and, in order to ensure that followers of the Group have a fuller understanding, has decided to publish on its website, as soon as possible, further analysis on the items mentioned above.
The information is expected to be posted on Thursday, 31 October 2013, if not earlier, when its provision will be notified.
END
CONTACTS
Globo plc | +44 20-7378-8828 |
Costis Papadimitrakopoulos, CEO | |
Dimitris Gryparis, Finance Director | |
Mike Jeremy, Investor Relations Officer | |
RBC Capital Markets | +44 20-7653-4000 |
(Nominated Adviser & Broker) | |
Stephen Foss, Pierre Schreuder or Daniel Conti | |
Bankside Consultants | +44 20-7367-8888 |
Simon Bloomfield |
Note
Costis Papadimitrakopoulos and Mike Jeremy made presentations at the following investor events:
1. Beaufort Securities' Brave New World on Wednesday 23 October 2013;
2. Proactive Investors' One2One Investors Forum on Thursday 24 October 2013; and
3. London Investor Show on Friday 25 October 2013.
The presentations reviewed Globo's business and growth strategy, specifically for the global consumer and enterprise mobility markets. No new information was disclosed.