Ted Baker PLC Replacement Annual Results -12-

Under the terms of the termination agreement we received a payment of GBP2.7m for compensation of minimum guaranteed royalties that would have been due to us had the agreement continued to its original completion date.

In line with accounting standards the termination of the agreement is considered to be a non-adjusting post balance sheet event and will be accounted for in the 2014/15 financial statements.

Given the significance and nature of the amount the termination payment of GBP2.7m will be shown as exceptional income in the group's income statement in the year ending January 2015.

Responsibility statement of the directors in respect of the Annual Results

We, the directors of the Company, confirm that to the best of our knowledge:

(a) each of the Group and Parent company financial statements, prepared in accordance with IFRS gives a true and fair view of the assets, liabilities, financial position and profit or loss of the issuer and the undertakings included in the consolidation taken as a whole; and

(b) the management report includes a fair review of the development and performance of the business and the position of the company and the undertakings included in the consolidation taken as a whole, together with a description of the principle risks and uncertainties that they face.

On behalf of the Board

 
 R S Kelvin        L D Page 
 Chief Executive   Finance Director 
 
 20 March 2014     20 March 2014

Cautionary statement regarding forward-looking statements

This document contains certain forward-looking statements. These forward-looking statements include matters that are not historical facts or are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industries in which the Company operates. Forward-looking statements are based on the information available to the directors at the time of preparation of this document, and will not be updated during the year. The directors can give no assurance that these expectations will prove to be correct. Due to inherent uncertainties, including both economic and business risk factors underlying such forward-looking information, actual results may differ materially from those expressed or implied by these forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

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