20 Sep 2017 07:00
600 Group Plc
(the "Company")
AGM update on trading
Ahead of the AGM today the 600 Group Plc, the AIM listed distributor, designer and manufacturer of machine tools and industrial laser systems is pleased to announce a trading update:
Trading in the current financial year continues to be in line with the Boards expectations. Order and quote activity remain good and current order books in machine tools are up 60% and industrial lasers 36% on the same time last year. Whilst our markets always remain subject to world economic and political influences these levels of order books gives us confidence in our trading going into the second half of the financial year.
Additionally we are pleased to report that the Group pension scheme continues to perform strongly and remains over 100% funded on a Technical Provisions valuation basis and various options for the scheme are being considered.
The Company is in the process of undertaking a direct subscription for approximately 8,615,384 new ordinary shares of 1p at a subscription price of 13 pence per ordinary share. The direct subscription will raise approximately £1.12 million before expenses. The Company expects to make a further announcement later today of the completion of this direct subscription.
More information on the group can be viewed at: www.600group.com
Enquiries: | |
The 600 Group PLC | Tel: 01924 415000 |
Paul Dupee, Executive Chairman | |
Neil Carrick, Finance Director | |
Spark Advisory Partners Limited (NOMAD) | Tel: 020 3368 3553 |
Matt Davis/ Miriam Greenwood | |
Cadogan PR Limited (Financial PR) | Tel: 020 7499 5002 / 07771 713608 |
Alex Walters | |
FinnCap (Broker) | Tel: 020 7600 1658 |
Tony Quirke/Mia Gardiner (Sales/Broking) |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.