Fusionex International PLC Statement in response to share price movement (6850M)

TIDMFXI

RNS Number : 6850M

Fusionex International PLC

22 January 2016

 
   22 January 2016

Fusionex International plc

("Fusionex" or "the Company" or "the Group")

Statement in response to share price movement

Fusionex International plc notes the drop in its share price post yesterday's announcement of its preliminary results for the year ended 30 September 2015. The Company understands that the share price may have been affected by commentary regarding perceived poor cash collection in the period. Consequently the Directors wish to clarify the position.

Cash collection for the year was adversely affected by an increase in trade receivables as a result of the business moving increasingly to channel partners which enable Fusionex to support scalable growth and wider market reach. These channel partners however require extended terms of trade, which is not unusual in the software industry and has resulted in this increase in receivables. Since the year end, and in the ordinary course of business, RM23.4m (GBP3.8m) of the year-end receivables of RM28.5m (GBP4.6m) has been collected.

For further details:

 
Fusionex                                                                     Through Buchanan 
 Ivan Teh, Chief Executive Officer 
 Yuen Choong Lai, Chief Financial Officer 
 Darren Hopkins, Director for Investor Relations & Corporate Development 
Panmure Gordon 
 Fred Walsh, Alina Vaskina (Investment Banking) 
 Erik Anderson, Tom Nicholson, Charles Leigh-Pemberton (Corporate Broking)   020 7886 2500 
RBC Capital Markets 
 Pierre Schreuder, Ema Jakasovic                                             020 7653 4000 
Buchanan 
 Sophie McNulty, Gabriella Clinkard, Stephanie Watson                        020 7466 5000

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 22, 2016 02:30 ET (07:30 GMT)

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