Aeorema Communications Plc Trading Update (7112G)
March 19 2020 - 3:00AM
UK Regulatory
TIDMAEO
RNS Number : 7112G
Aeorema Communications Plc
19 March 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
19 March 2020
Aeorema Communications plc ('Aeorema' or the 'Company')
Trading Update
Aeorema Communications plc, the AIM-quoted live events agency,
provides an update on trading for the financial year ending 30 June
2020 ("FY20"), following the postponement of the Cannes Lions
International Festival of Creativity from June until October 2020
as a result of the COVID-19 virus (or coronavirus) outbreak .
Cannes Lions will now take place from 26 - 30 October and the
organisers have said that all passes, sponsorship arrangements and
bookings will roll over and remain valid.
As a result of the postponement of Cannes Lions, the Directors
anticipate that the Company will make a loss before tax for FY20 of
between GBP150,000 and GBP250,000. Given the rapidly evolving
COVID-19 situation, the Directors consider it appropriate for
market forecasts to be suspended at this time.
The Directors remain confident that the revenue and profit from
postponed events will now fall into the financial year ending 30
June 2021. Aeorema has maintained its strong cash position with GBP
1,393,243 in the bank as at 31 December 2019 (31 December 2018:
GBP1,030,956) . As at the date of this announcement, cash in bank
is circa. GBP1,700,000.
For further information on the Company visit www.aeorema.com or contact:
Mike Hale Aeorema Communications Tel: +44 (0) 20
plc 7291 0444
John Depasquale Allenby Capital Limited Tel: +44 (0)20
/ Liz Kirchner (Nominated Adviser 3328 5656
and Broker)
Catherine Leftley St Brides Partners Tel: +44 (0) 20
Ltd 7236 1177
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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