Carclo plc Contract Cancellation (9085I)
07 Diciembre 2022 - 3:44AM
UK Regulatory
TIDMCAR
RNS Number : 9085I
Carclo plc
07 December 2022
7 December 2022
Carclo plc
("Carclo" or the "Group")
Contract Cancellation
In December 2020 the Group announced the receipt of a ten-year
Framework Agreement from a
major global OEM for the supply of a range of components for use
in their laboratory-based PCR diagnostic systems. At full
production rates these contracts were expected to deliver
incremental sales of between GBP10m and GBP15m annually for the
life of the contract with the Board's most recent expectation being
that production volumes would start building from the last quarter
of the current financial year. Whilst the tooling contracts have
been substantially delivered, the customer has now informed the
Group that they no longer intend to proceed into the production
phase of the project.
The Group is in discussion with the customer regarding an
appropriate commercial settlement in relation to this cancellation.
The Board is evaluating the financial impact and taking mitigating
actions.
About Carclo plc
Carclo plc is a public company whose shares are quoted on the
Main Market of the London Stock Exchange. The Group is a global
provider of value-adding engineered solutions for the medical,
optical and aerospace industries.
LEI: 21380078MEM399JPI956
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
("MAR").
Enquiries:
Carclo plc
01924 268040
Frank Doorenbosch - Chief Executive Officer
David Bedford - Chief Financial Officer
FTI Consulting
020 3727 1340
Nick Hasell / Susanne Yule
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END
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December 07, 2022 04:44 ET (09:44 GMT)
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