adept4 plc Customer Contract Termination (3570V)
April 08 2019 - 2:00AM
UK Regulatory
TIDMAD4
RNS Number : 3570V
adept4 plc
08 April 2019
Adept4 plc
("Adept4", the "Company" or the "Group")
Customer Contract Termination
Adept4 plc, the AIM listed provider of 'IT as a Service',
announces that it has received notice of termination of a customer
contract which in the year to 30 September 2018, delivered GBP0.7
million of recurring revenue. As a result, revenue and Trading
Group EBITDA* for the year ending 30 September 2019, are likely to
be below management's expectations. Based on current information,
the Company disputes that the contract termination is valid and is
therefore considering the legal redress open to it.
For further information please contact:
Adept4 plc
Simon Duckworth, Non-Executive Chairman 01925 398 255
N+1 Singer (Nominated Adviser and Broker)
Jen Boorer 020 7496 3000
MXC Capital Markets LLP
Charlotte Stranner 020 7965 8149
This announcement contains inside information.
* earnings before net finance costs, tax, depreciation,
amortisation, plc costs, separately identifiable items and
share-based payments
About Adept4
Adept4 delivers IT as a service to small and medium sized
businesses across the UK. IT as a Service (ITaaS) provides you with
exactly the amount of technology and support you need in accordance
with business requirements, billed on a monthly basis, based on
what is consumed.
Critically we underpin this delivery method with a 24 x 7 UK
response team, strategic consulting, professional services and
software development to provide exactly what organisations need
from IT at any given time. Whether an infrastructure is based on
legacy or emerging technologies we will ensure organisations have
the flexibility, agility and cost efficiencies required to run
their business effectively, all through a single trusted
provider.
Adept4 is a public company quoted on the AIM market of the
London Stock Exchange. The Company is headquartered in Warrington,
with offices in Leeds, Aberdeen, and Brighton.
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
CNTIFMMTMBTMTML
(END) Dow Jones Newswires
April 08, 2019 02:00 ET (06:00 GMT)
Cloudcoco (LSE:CLCO)
Historical Stock Chart
From Apr 2024 to May 2024
Cloudcoco (LSE:CLCO)
Historical Stock Chart
From May 2023 to May 2024