Instem plc Update to Results Announcement Date (4577H)
March 25 2020 - 3:00AM
UK Regulatory
TIDMINS
RNS Number : 4577H
Instem plc
25 March 2020
Instem plc
("Instem" or the "Company")
Update to Results Announcement Date
Instem plc (AIM: INS), a leading provider of IT solutions to the
global life sciences market, provides the following update to the
market.
As announced by the UK Financial Conduct Authority ("FCA") on 23
March, the FCA has written to all listed companies it was aware of
that were planning to announce preliminary results in the next few
days. They strongly requested that all such companies should
observe a moratorium on the publication of their preliminary
statements for at least two weeks. This order is to ease the
practical challenges faced by those companies and the audit
profession during the current COVID-19 crisis.
Whilst the FCA letter was targeted at main market listed
entities, Instem has decided to follow that guidance and will not
now announce preliminary results on 30(th) March 2020.
In line with the guidance provided in the Company's Trading
update issued on 13(th) January 2020, subject to audit, Instem
expects to report 2019 Revenues of approximately GBP25.7m and
Adjusted EBITDA* of approximately GBP4.9m, with a 2019 year-end
closing cash position of GBP6.0m.
The Board will update the market with a date for the release of
its audited 2019 financial statements as soon as practicable.
* Adjusted EBITDA is Earnings before Interest, Tax,
Depreciation, Amortisation and Non-recurring costs
For further information, please contact:
Instem plc Via Walbrook
Phil Reason, CEO
Nigel Goldsmith, CFO
N+1 Singer (Nominated Adviser
& Broker) +44 (0) 20 7496 3000
Peter Steel
Rachel Hayes
Walbrook Financial PR +44 (0) 20 7933 8780
Tom Cooper instem@walbrookpr.com
Nick Rome
Nicholas Johnson
About Instem
Instem is a leading provider of IT solutions & services to
the life sciences market delivering compelling solutions for Study
Management and Data Collection; Regulatory Solutions for
Submissions and Compliance; and Informatics-based Insight
Generation.
Instem solutions are in use by over 500 customers worldwide,
including all the largest 25 pharmaceutical companies, enabling
clients to bring life enhancing products to market faster. Instem's
portfolio of software solutions increases client productivity by
automating study-related processes while offering the unique
ability to generate new knowledge through the extraction and
harmonisation of actionable scientific information.
Instem products and services address aspects of the entire drug
development value chain, from discovery through to market launch.
Management estimate that over 50% of all drugs on the market have
been through some part of Instem's platform at some stage of their
development.
To learn more about Instem solutions and its mission, please
visit www.instem.com
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
UPDBRGDXLXDDGGS
(END) Dow Jones Newswires
March 25, 2020 03:00 ET (07:00 GMT)
Instem (LSE:INS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Instem (LSE:INS)
Historical Stock Chart
From Jul 2023 to Jul 2024