TIDMCTO
RNS Number : 1169F
TClarke PLC
06 July 2023
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IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.
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6 July 2023
TClarke plc
Trading update and Revenue Expansion to Continue
TClarke plc ("TClarke", the "Group" or the "Company"), t he
Building Services Group, issues a Trading Update covering the
period from our AGM held 10 May 2023 to date.
Trading has continued to be strong, and the Board remains highly
con dent that the Group will successfully deliver its growth
strategy such that the Group's revenues will exceed for the first
time GBP500m in the current financial year, in doing so achieving
the three-year revenue growth strategy set out by the Board in
March 2021. The Group was GBP4.5m net cash positive at 30 June
2023.
We are pleased to be reporting a forward order book that has
been replenished and has been strengthened significantly; as of 30
June 2023 it stands at a record GBP781m (2022: GBP586m). Having
proactively invested in resources and capacity to support the
Group's growth ambitions, TClarke is well-positioned to manage
these additional revenues in our chosen market sectors.
In a separate announcement today, the Board is pleased to
announce that it has conditionally raised gross proceeds of GBP10.7
million by way of an oversubscribed placing of new ordinary shares
in the Company in order to fund significant further expansion
beyond 2023.
The net proceeds of the Placing will further strengthen the
Group's balance sheet and will provide additional resources with
which to capture and deliver additional identified short to medium
term attractive contract opportunities in the London business - in
doing so driving further growth and margin expansion.
The Board is encouraged by the strength of the Group's position
in the market.
TClarke will be reporting its half year results for the six
months ended 30 June 2023 on 13(th) July 2023.
Mark Lawrence, TClarke CEO, commented :
"All of us at TClarke remain absolutely focused on our approach
to targeted tendering, risk management and the successful delivery
of our projects.
Today's record forward order book which will convert to planned
revenue expansion in the medium term is without doubt a significant
milestone for TClarke and we are grateful for the support and trust
given to TClarke and our teams to deliver for our clients."
For further information, please contact:
+44 (0) 20 7997
TClarke PLC 7400
Mark Lawrence, Chief Executive Officer http://www.tclarke.co.uk
Trevor Mitchell, Finance Director
+44 (0) 20 7397
Cenkos Securities plc (Sole Broker) 8900
Ben Jeynes / Max Gould / Hamish Waller (Corporate
Finance)
Dale Bellis / Jasper Berry (Sales)
+44 (0) 20 3735
RMS Partners 6551
Simon Courtenay
Important notices
The distribution of this Announcement and any other
documentation associated with the Placing into jurisdictions other
than the United Kingdom may be restricted by law. Persons into
whose possession these documents come should inform themselves
about and observe any such restrictions. Any failure to comply with
these restrictions may constitute a violation of the securities
laws or regulations of any such jurisdiction. In particular, such
documents should not be distributed, forwarded to or transmitted,
directly or indirectly, in whole or in part, in, into or from the
United States, Australia, Canada, Japan or the Republic of South
Africa or any other jurisdiction where to do so may constitute a
violation of the securities laws or regulations of any such
jurisdiction (each a "Restricted Jurisdiction").
This Announcement is not an offer of securities for sale into
the United States. The new ordinary shares to be issued pursuant to
the Placing (the "Placing Shares") have not been and will not be
registered under the US Securities Act 1933 as amended (the "US
Securities Act") or with any securities regulatory authority of any
state or other jurisdiction of the United States and, accordingly,
may not be offered, sold, resold, taken up, transferred, delivered
or distributed, directly or indirectly, within the United States
except pursuant to an applicable exemption from, or in a
transaction not subject to, the registration requirements of the US
Securities Act and in compliance with any applicable securities
laws of any state or other jurisdiction of the United States. There
will be no public offer of the Placing Shares in the United
States.
The Placing Shares have not been and will not be registered
under the relevant laws of any state, province or territory of any
Restricted Jurisdiction and may not be offered, sold, resold, taken
up, transferred, delivered or distributed, directly or indirectly,
within any Restricted Jurisdiction except pursuant to an applicable
exemption from registration requirements. There will be no public
offer of Placing Shares.
This Announcement is for information purposes only and does not
constitute or form part of any offer to issue or sell, or the
solicitation of an offer to acquire, purchase or subscribe for, any
securities in any jurisdiction and should not be relied upon in
connection with any decision to subscribe for or acquire any of the
Placing Shares (as the case may be). In particular, this
Announcement does not constitute or form part of any offer to issue
or sell, or the solicitation of an offer to acquire, purchase or
subscribe for, any securities in the United States.
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END
TSTUPUPCMUPWGRA
(END) Dow Jones Newswires
July 06, 2023 02:00 ET (06:00 GMT)
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