10 Mar 2022 07:00
10 March 2022
Northbridge Industrial Services Plc
("Northbridge" or the "Company" or "Group")
Change of Company Name
Trading Update & Capital Markets Event
Resumption of Dividends
Company name change to Crestchic Plc
Northbridge, the power reliability company, updates that with the disposal of the Tasman division now substantially complete, as announced on 1 March 2022, the activities of the Group are now focused on its growing Crestchic power reliability division.
In recognition of this strategic repositioning, a resolution will be put forward at the Annual General Meeting on 9 June 2022 to rename the Group to Crestchic Plc. The TIDM 'LOAD' has been reserved.
Full details on the implementation of the change of name, including any changes to the Group's website, will be announced after the Annual General Meeting.
Trading update and Capital Markets Event
The Board is pleased to confirm that the positive start to the 2022 financial year, as announced on 18 February 2022, has continued.
The Company will today at 2.30pm, host a virtual capital markets event followed by a live Q&A session to provide greater detail on the expansion strategy of the Crestchic power reliability division, as it focuses on the long-term growth markets driven by the rise of renewables and the ever-increasing demand for cloud computing and data storage.
Please contact Buchanan if you wish to attend the event at northbridge@buchanan.uk.com.
A recording of the event will be made available on the Investor Relations website following the meeting.
Dividend
Based on the performance in 2021 and the outlook for 2022 and beyond, the Board is pleased to be in a position to recommend the resumption of dividends. A final dividend for 2021 of 1.0 pence per share will be proposed at the Annual General Meeting to be held on 9 June 2022 and, subject to shareholder approval, the dividend will be paid on the 16 June 2022 to shareholders on the register on 27 May 2022. The ex-dividend date will be 26 May 2022.
This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.
-Ends-
For further information
Northbridge Industrial Services Plc 01283 531645
Peter Harris, Executive Chairman
Iwan Phillips, Finance Director
Shore Capital (Nominated Adviser and Broker) 020 7408 4050
Robert Finlay / David Coaten / Henry Willcocks
Buchanan Communications 020 7466 5000
Charles Ryland / Stephanie Whitmore
About Northbridge:
Northbridge Industrial Services plc hires and sells specialist industrial equipment. With offices or agents in the UK, USA, The Middle East, Belgium, Germany, France, Singapore, China and South Korea, Northbridge has a global customer base. This includes utility companies, renewables, the oil and gas sector, data centres, shipping, banking, mining, construction and the public sector. The product range includes loadbanks, transformers, and drilling tools. Northbridge was admitted to AIM in 2006 since when it has grown by providing a high level of service, responsiveness and flexibility to customers.