25 Mar 2014 07:00
KCOM Group PLC (KCOM.L)
Pre-close statement
25 March 2014
KCOM Group ("the Group") announces it will be entering a close period on 1 April 2014, ahead of its preliminary results announcement for the year ending 31 March 2014. The Board confirms that trading remains in line with expectations.
The preliminary results will be released on 6 June 2014.
Board changes
As previously announced, from 1 April 2014, Bill Halbert, currently Executive Chairman, will assume the role of Group Chief Executive and Graham Holden, the role of Non-Executive Chairman. Mr Holden has been an independent Non-Executive Director (NED) for the past 6 years.
In conjunction with these changes, an additional NED will be recruited.
Pension update
The Group is pleased to announce also that it has reached an agreement with the Trustees of its Defined Benefit Pension Schemes ("the Schemes") to provide further funding of the Schemes' current deficit position through the asset backed Partnership ("the Partnership") that had been previously established during the year ended 31 March 2013.
The total value of this income distribution to the Schemes is £16.0 million. Further details will be provided, alongside an update as to the Schemes' funding position and deficit repair plan, at the preliminary results announcement in June.
ENDS
About KCOM Group PLC
KCOM Group PLC is a leading provider of communications services to organisations and consumers, serving customers through four market focused brands.
KC provides a range of telephony and broadband services to consumers and businesses in Hull and East Yorkshire. Our other three brands serve organisations throughout the UK. Eclipse provides communications services to small and medium businesses across the UK, connecting them to customers, partners and suppliers and improving their productivity and flexibility, and helping them to grow. Kcom works with some of the UK's biggest names, delivering integrated IT and communications services that enable them to be flexible, efficient and more responsive to their customers. Smart421 delivers high-end consultancy, integration and management of business-critical systems for enterprise customers.
We apply the collective knowledge and expertise of our people and our partners to help our customers harness the power of communications. Our focus is on the delivery of inspiring customer experiences, and finding new and better ways to connect people.
For further information please contact:
Bill Halbert, Executive Chairman / Paul Simpson, CFO
KCOM Group PLC
01482 602595
Cathy Phillips, Investor Relations
KCOM Group PLC
07778 335735
Matt Ridsdale/Lulu Bridges/Mike Bartlett
Tavistock Communications
020 7920 3150