Nektan PLC Delay in publication of accounts and update (8991X)
23 Diciembre 2019 - 11:21AM
UK Regulatory
TIDMNKTN
RNS Number : 8991X
Nektan PLC
23 December 2019
23 December 2019
NEKTAN PLC
("Nektan", the "Company" or the "Group")
Delay in publication of annual audited accounts and update on
commercial progress
Nektan plc (AIM: NKTN), the fast growing, award-winning
international gaming technology platform and services provider,
announces that it is in advanced stages of a significant
restructuring of the Group's operations, including the potential
sale of its UK B2C operations. As a result, the Company is unlikely
to be able to publish its audited annual report and accounts for
the year ended 30 June 2019 (the "Accounts") by 31 December 2019,
as required by Rule 19 of the AIM Rules for Companies (the "AIM
Rules").
Due to the likely delay in publishing of the Company's Accounts,
dealings in the Company's ordinary shares is expected to be
temporarily suspended from trading on AIM under AIM Rule 40, with
effect from 7.30 a.m. on Thursday 2 January 2020 until such time as
the Accounts have been duly published in compliance with AIM Rule
19. The Group expects that this will be during January 2020.
Update on commercial progress
In its international B2B and B2C divisions, the Group continues
to experience strong interest from potential partners globally.
Further to the update on 18 September 2019, the Group is pleased to
report that it is ahead of expectations and on track to complete 20
new site launches by the end of December 2019. In addition, the
Group has a strong pipeline of further launches scheduled for Q1
calendar 2020. The Board continues to expect these launches to be
transformational, with a number of these partners expected to
deliver significant revenues to Nektan once fully established,
which is considered typically to be 3 to 4 months after going live.
Notwithstanding that, the Group is pleased that a number of the new
launches have started producing revenue underpinning confidence in
the Group's B2B division and validating the decision to restructure
in order to dedicate resources to these opportunities.
Notwithstanding the likely temporary suspension of trading in
the Ordinary Shares, the Company will continue to make
announcements as and when required by the AIM Rules.
For further information on the Group, please contact:
Nektan
Gary Shaw, Interim Chief Executive Officer
Simon Hay, Chief Financial Officer
Kam Bansil, IR +44 203 478 2648
Shore Capital (Nominated Adviser and Joint Broker)
Tom Griffiths / David Coaten +44 207 408 4050
-----------------
Novum Securities (Joint Broker)
Jon Belliss / Colin Rowbury +44 207 399 9425
-----------------
Further information on Nektan can be found on the Group's
website at www.nektan.com.
About Nektan:
Nektan is a fast growing, international gaming technology and
services provider, specialising in mobile casino. It licenses its
proprietary technology to leading operators, including BetVictor,
and provides end-to-end technology and white label casino services
for leading brands, including News International's The Sun
Play.
Nektan's full end-to-end technology platform, Evolve, enables
the management of the full customer experience and back-office
operations, allowing partners to focus on marketing the product to
their consumers.
The E-Lite platform is Nektan's B2B gaming content aggregator
and bonusing platform that delivers a wide range of premium content
from the world's leading game studios. It is an easily-integrated
add on module for operators, giving them an array of options and
flexibility on how they manage and distribute a breadth of premium
gaming content across their networks.
Nektan has a material stake in US-based interactive gaming
operator Rapid Games, which provides US land-based casinos with an
in-venue mobile gaming solution. It allows operators to add mobile
technology and content making products accessible to players across
both cabinets and mobile devices inside casinos.
Headquartered in Gibraltar, Nektan is regulated by the Gibraltar
Licensing Authority, the UK Gambling Commission and the Information
Commissioners Office. As a socially responsible license holder,
Nektan endeavours to deliver a safe, secure and robust player
gaming experience.
Nektan plc was admitted to the AIM market of the London Stock
Exchange in November 2014.
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
UPDFEAFWDFUSEFE
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December 23, 2019 12:21 ET (17:21 GMT)
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