FLK Fletcher King Plc

TIDMFLK

RNS Number : 0736I

Fletcher King PLC

10 August 2021

 
 For immediate release   10 August 2021 
 

Fletcher King plc

("Fletcher King" or the "Company")

Trading Update

Notice of Results

Fletcher King plc (AIM: FLK) provides the following trading update and notice of results.

The Company reported a loss before tax of GBP447,000 for the six months to 31 October 2020 and in its announcement of 3 March 2021 stated that it believed that losses for the second half of the year would potentially be similar to the first half.

The Company confirms that it expects overall losses for the second half to be broadly similar to the first half, subject to audit verification. The Company plans to announce results for the year ended 30 April 2021 in the second half of September.

On 2 July 2021, the Company noted recent press speculation regarding a potential purchase of existing shares, issue of new shares (together, constituting no more than 29.99% of the Company's issued share capital) and new board appointments (the "Potential Transaction") involving Elliott Bernerd. Discussions remain ongoing and there can be no certainty that the Potential Transaction will proceed. The Board will provide further updates in due course.

After a very difficult trading period, the Company has started the new financial year with a more optimistic outlook. Clients are engaging more positively in investment activity and the Company is hopeful of securing a pick-up in transaction fee income.

The Company remains well supported by a strong balance sheet with no debt.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

- Ends -

For further information, please contact:

 
 
 Fletcher King plc                     Tel: +44 (0) 20 7493 8400 
 David Fletcher, Chairman 
  Peter Bailey, Finance Director 
 
 Cairn Financial Advisers LLP          Tel: +44 (0) 20 7213 0880 
 (Nominated Adviser) 
 James Caithie 
  Liam Murray 
 
 Buchanan 
 Henry Harrison-Topham                 Tel: +44 (0) 20 7466 5000 
  Jamie Hooper                      fletcherking@buchanan.uk.com 
  Tilly Abraham 
 

Forward Looking Statements

Certain statements in this announcement are forward-looking statements relating to the Company's operations, performance and financial position based on current expectations of, and assumptions and forecasts made by, management. They are subject to a number of risks, uncertainties and other factors which could cause actual results, performance or achievements of the Company to differ materially from any outcomes or results expressed or implied by such forward-looking statements. Undue reliance should not be placed on such forward looking statements. They are made only as of the date of this announcement and no representation, assurance, guarantee or warranty is given in relation to them including as to their accuracy, completeness, or the basis on which they are made.

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END

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August 10, 2021 02:00 ET (06:00 GMT)

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