TIDMKRM
RNS Number : 5977N
KRM22 PLC
26 September 2023
KRM22 plc
("KRM22", the "Group" or the "Company")
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHSED 30 JUNE 2023
KRM22 plc (AIM: KRM.L), the technology and software investment
company, with a particular focus on risk management in capital
markets, announces its unaudited interim results for the six months
ended 30 June 2023 ("H1 2023" or the "Period").
Highlights
Financial
-- Annualised Recurring Revenue* ("ARR") of GBP4.9m at 30 June
2023 (H1 2022: GBP4.1m) - growth of 19.5%
o New contracted ARR in the period of GBP0.4m (H1 2022:
GBP0.7m)
-- Total revenue recognised of GBP2.4m (H1 2022: GBP1.9m) - growth of 26.3%
-- Adjusted EBITDA loss** of GBP1.0m (H1 2022: loss of GBP0.7m)
-- Loss before tax of GBP2.3m (H1 2022: loss before tax of GBP1.2m)
-- Gross cash and cash equivalents at 30 June 2023 of GBP1.4m (FY 2022: GBP1.9m)
Operational
-- Completion of debt refinancing with a new GBP5.0m facility
provided by Trading Technologies International, Inc ("TT") of which
GBP4.0m was drawn down in June 2023 to repay the previous GBP3.0m
facility plus interest of GBP0.1m and support business growth
-- ARR contracts in place for the Limits Manager product with
four of the top 10 Futures Commission Merchants ("FCMs")
-- First sale of Limits Manager product through TT sales channel
under the existing framework agreement
-- Continued low level of customer churn with churn in the period of GBP0.1m (H1 2022: GBP0.1m)
Post-Period Events
-- Growth in ARR to GBP5.1m from a further three new contracts,
including an additional Limits Manager product sale through the TT
sales channel, an increase of 8.5% since the end of the Period
-- R&D tax receipt in respect of FY 2022 of GBP0.2m
* Annualised Recurring Revenue (ARR) is the value of contracted
Software-as-a-Service (SaaS) revenue normalised to a one year
period and excludes one time fee.
** Adjusted EBITDA is the reported loss for the period, adjusted
for recurring non-monetary costs including depreciation,
amortisation, unrealised foreign exchange gain/(loss) and
share-based payment charges and non-recurring costs including loss
on disposal of tangible/intangible assets and acquisition and
funding costs.
Commenting on the results, CEO of KRM22, Stephen Casner,
said:
"With ARR currently at GBP5.1m, our success in the first half of
2023 in growing ARR and maintaining a low level of customer churn
continues to show progress towards our key goal of building a
GBP10.0m ARR SaaS business. Our Limits Manager product provided
strong results in this period through both our direct selling and
TT distribution partnership and is quickly becoming an industry
leading application. Our new Risk Manager product is now being
introduced to major customers and we expect its success to
accelerate our ARR growth throughout 2024 with a strong pipeline of
sales opportunities to drive this growth. "
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Change of Name of Nominated Adviser and Broker
The Company also announces that its Nominated Adviser and Sole
Broker has changed its name to Cavendish Capital Markets Limited
following completion of its own corporate merger.
For further information please contact:
KRM22 plc InvestorRelations@krm22.com
Keith Todd CBE, Executive Chairman
Stephen Casner, CEO
Kim Suter, CFO
Cavendish Capital Markets Limited (Nominated Adviser and Broker) +44 (0)20 7220 0500
Carl Holmes / George Dollemore
Sunila de Silva (ECM)
About KRM22 plc
KRM22 is a closed-ended investment company which listed on AIM
on 30 April 2018. The Company has been established with the
objective of creating value for its investors through the
investment in, and subsequent growth and development of, target
companies in the technology and software sector, with a focus on
risk management in capital markets.
Through its investments and the Global Risk Platform, KRM22
helps capital market companies reduce the cost and complexity of
risk management. The Global Risk Platform provides applications to
help address firms' trading and corporate risk challenges and to
manage their entire enterprise risk profile.
Capital markets companies' partner with KRM22 to optimise risk
management systems and processes, improving profitability and
expanding opportunities to increase portfolio returns by leveraging
risk as alpha.
KRM22 plc is listed on AIM and the Group is headquartered in
London, with offices in several of the world's major financial
centres.
See more about KRM22 at www.krm22.com
CEO'S REPORT
I am pleased to report our interim financials for the first half
of 2023 which demonstrate that the Company is continuing to advance
its key initiatives that were established in 2022 and solidly place
the Company on track to meet our goal of moving towards a GBP10.0m
Annualised Recurring Revenue ("ARR") business by 2026.
After successfully reorganising the business and repositioning
the value proposition of the Risk Cockpit product in 2022, we have
continued to advance three key initiatives:
1. Our Limits Manager product becoming the leading industry
application for managing trading limits at Futures Commissions
Merchants ("FCMs");
2. Growing ARR, through two distinct sales "channels" - our
direct sales team as well as the product distribution agreement
with Trading Technologies International, Inc ("TT"); and
3. Continuing to maintain a low level of customer churn.
In addition to these initiatives, the Company completed a new
GBP5.0m debt facility from TT, KRM22's largest shareholder, to
replace the previous GBP3.0m secured debt facility that was due to
mature in September 2023.
As you review the progress made in the Period, I would like to
highlight where we stand on the three key initiatives as we
continue through 2023.
Limits Manager product becoming an industry standard
As previously reported, by the end of 2022 the Limits Manager
product had been successfully deployed at three of the world's top
FCMs, generating over GBP0.5m of ARR. The Limits Manager product
centralises the management of limits a FCM provides their trading
partners - a key part of controlling trading behaviour and managing
the risk the FCM has with their counterparties. New features and
functions have continued to be delivered through the Period with
additional integration of the application delivered to support the
industry's largest exchanges and independent software vendors.
In addition to the three FCMs already using Limits Manager at
the end of 2022, the TT sales channel generated a sale to one of
the industry's top five FCMs, with the customer going live on
Limits Manager in the first quarter of 2023. Since the end of the
Period, one additional major FCM has contracted to license the
Limits Manager product through the TT sales channel taking the
total number of customers using the Limits Manager product to
five.
There are five additional FCM's who are testing the product and
are scheduled to begin production before the end of 2023. The
partnership with TT has given the Company unprecedented access to
sales prospects with accelerated testing and adoption of the Limits
Manager product in a timeframe that is significantly less than a
quarter of the time our direct sales approach has taken.
We project that by the end of 2023, nine of the industry's top
15 largest FCMs will have licensed our product, generating over
GBP1.0m of ARR for the Company.
A second KRM22 product, Risk Manager, has been launched on the
TT platform and another major global financial institution has
begun testing and evaluating this new product. We expect revenue to
be generated from this product in 2024 and, in the same way that
the Limits Manager product is becoming an industry standard with
FCMs, we expect the Risk Manager product to become another industry
standard for FCMs and their customers and generate ARR at an even
higher pace than Limits Manager over the next two years.
Revenue growth
At the end of the Period the Company's ARR was GBP4.9m. In July
2023 the Company's ARR increased to GBP5.0m - a significant
milestone for the Company, and the first time this has been
achieved since its IPO in 2018. The Company has continued to sign
new contracts and, at the date of this report, the Company's ARR
has further increased to GBP5.1m from GBP4.8m (GBP4.7m at constant
FX rates) at 31 December 2022, an increase of 8.5%.
The new ARR signed in 2023, and to the date of this report,
includes sales of KRM22 products through the TT sales channel,
direct sales to new customers as well as existing customers
purchasing additional products and extensions to existing customer
contracts.
In addition to generating new ARR and maintaining a low level of
customer churn, we are now increasing the amount of non-recurring
revenue ("NRR") at a level we have not seen before. NRR recognised
in the Period was GBP0.2m and the Company currently has a further
GBP0.2m of contracted NRR, from implementation and development
services, which will be recognised in the remainder of 2023.
Delivering new NRR whilst continuing to add ARR at a level of
GBP1.0m each year is expected to result in a significant
improvement to adjusted EBITDA over the next few years.
Customer retention
Prior to FY2022 the Company experienced an unsustainable level
of customer churn which was significantly reduced in FY2022 and I
am pleased to report that the low level of churn has continued into
FY2023 with churn of GBP0.1m.
While completely eliminating churn is impossible in a successful
SaaS model, due to industry consolidation and market forces, our
ability to deliver new products and new features and enhancements
on existing products, together with focused customer retention
plans, is helping to ensure that churn continues at an acceptably
low level.
Outlook
Overall, we have made good progress in trying to achieve the
objectives and internal KPI's set out at the start of 2023. We
expect to achieve all of the 2023 objectives by the end of the
year, and then we will start 2024 in a strong position on which to
build and continue the journey to a GBP10.0m ARR business.
The goal of getting KRM22 to a GBP10.0m ARR business by the end
of FY2026 is ambitious, however delivering ARR growth of 20% per
year compounded through our direct and the TT sales channels,
together with maintaining a low level of churn, will allow this
target to be realised to generate positive EBITDA and
cashflows.
Whilst we have defined our goal of growing KRM22 to a GBP10.0m
ARR business, the amount of variables we have in our revenue plan
has been unpredictable. However, we are starting to have a much
better understanding of the sales opportunities, timing of sales
cycles and development effort required for the Limits Manager and
Risk Manager products which will enable us to return to providing
market forecasts soon. We believe that by remaining diligently
focused on growing ARR, retaining customers and managing costs, the
time frame for our success will begin to come into focus in our
subsequent reporting periods.
As always, we thank you for your support and look forward to
continuing to build one of the best capital markets risk management
companies.
Stephen Casner
CEO
25 September 2023
FINANCIAL REVIEW
Income statement
Total revenue
Total revenue reported in the period was GBP2.4m (H1 2022:
GBP1.9m), an increase of 26.3% compared with the prior period, with
93.7% (H1 2022: 96.3%) generated from recurring customer contracts.
Non-recurring revenue for the period was GBP0.2m (H1 2022: GBP0.1m)
and related principally to customer implementations, proof of
concept work and development services.
Recurring revenue
As at 30 June 2023, the Group had contracted Annualised
Recurring Revenue ("ARR") of GBP4.9m (H1 2022: GBP4.1m), with new
contracted ARR in the period of GBP0.4m (H1 2022: GBP0.7m) and
churn of GBP0.1m (H1 2022: GBP0.1m). As at the date of this report,
contracted ARR has further increased to GBP5.1m.
Gross profit
Gross profit for the period was GBP1.8m (H1 2022: GBP1.5m) with
gross profit margin for the period of 75.5% (H1 2022: 78.3%). The
reduction in gross profit margin was driven by the amount of
revenue through partner products and services, primarily through
data and news feeds, with minimal profit margin to KRM22.
Adjusted EBITDA
Adjusted EBITDA is a key metric to consider in order to
understand the cash-profitability of the business due in particular
to the non-cash items that impact the Income Statement under IFRS
accounting, such as non-cash share-based costs.
Adjusted EBITDA for the period was a loss of GBP1.0m (H1 2022:
loss of GBP0.7m) and a reconciliation of adjusted EBITDA loss to
operating loss is detailed below.
Throughout FY2022, the Company used the investment proceeds
received at the end of FY2021 from Trading Technologies
International, Inc ("TT") to invest in Revenue, Customer Services
and Development resource to help drive the business forward by
growing ARR and retention of customers, which the Company was
successful in achieving. H1 2023 therefore includes a full period
of increased staffing costs compared with H1 2022. The Company also
used the TT investment proceeds to invest in Sales and Marketing
with an increase in costs associated with industry events through
sponsorship and increased staff attendance at these events to drive
growth in ARR.
In addition to the aforementioned investment in resource, the
rate of inflation over the past 18 months meant that staff salary
reviews, which are completed on an annual basis in the first
quarter of each financial year, resulted in a significantly higher
average pay increase compared to H1 2022. The average pay increase,
whilst being higher than the prior period, was not matched to the
rate of inflation.
H1 2023 H1 2022
GBP'm GBP'm
Adjusted EBITDA loss (1.0) (0.7)
Depreciation and amortisation (0.8) (1.0)
Unrealised foreign exchange (loss)/gain (0.5) 0.8
Gain on extinguishment of debt 0.1 -
Share-based payment expense - (0.1)
Operating loss (2.2) (1.0)
-------- --------
Loss for the period
Reported operating loss for the period was GBP2.2m (H1 2022:
loss of GBP1.0m). The main driver of the increase in operating loss
for the period is the recognition of a GBP0.5m unrealised foreign
exchange loss in H1 2023 compared to a gain of GBP0.8m in H1
2022.
Finance charges
The net finance expense for the period was GBP0.2m (H1 2022:
GBP0.2m) and includes loan interest of GBP0.1m (H1 2022: GBP0.1m)
and IFRS16 lease liability interest of GBP0.1m (H1 2022:
GBP0.1m)
Financial position
Assets
The cash balance at 30 June 2023 was GBP1.4m (31 December 2022:
GBP1.9m).
Current assets at 30 June 2023 include trade and other
receivables of GBP0.8m (31 December 2022: GBP1.5m).
Liabilities
As at 30 June 2023, our principal liabilities were:
-- GBP4.0m convertible loan (the "TT Convertible Loan") owed to
Trading Technologies International, Inc ("TT"). The interest rate
payable on the TT Convertible Loan is the aggregate of the SOFR
average rate and a margin of 5.5% provided that the amount of such
aggregate percentage rate shall be a minimum of 9.25%. Interest on
the TT Convertible Loan is paid quarterly however for the first 18
months of the TT Convertible Loan term, interest can be deferred
with 50% of any deferred interest being paid on 31 December 2024
and the remaining balance of deferred interest paid on 31 March
2025. TT can convert the TT Convertible Loan into new ordinary
shares in the Company at any time at a conversion price of 46p.
-- GBP0.9m (US$1.1m) deferred consideration for earn out
payments for the acquisition of Object+. The liability can be
satisfied in either cash or Company ordinary shares at the
Company's discretion.
-- GBP0.5m for the right of use assets relating to all future
payments of leased-office rentals under IFRS16 'Leases' whereby
such lease payments are provided for at today's value however, in
practice, these rental payments will be spread over the term of the
leases. All of the liability is due within twelve months.
-- GBP1.8m of deferred revenue; contracted and paid services
that will be released within one year.
Principal risks and uncertainties
The principal risks and uncertainties facing the Group remain
broadly consistent with the Principal Risks and Uncertainties
reported in the Group's 31 December 2022 Annual Report and continue
to be monitored by the Board.
Kim Suter
CFO
25 September 2023
Consolidated income statement and statement of comprehensive
income
for the six months ended 30 June 2023
Note 6 months 6 months
to to
30 June 30 June
2023 2022
(unaudited) (unaudited)
GBP'000 GBP'000
Revenue 4 2,402 1,904
Cost of sales (588) (413)
Gross profit 1,814 1,491
Other income 69 65
Administrative expenses (4,047) (2,573)
-------------- --------------
Operating loss before interest, taxation,
depreciation, amortisation, share based
payment and exceptional items ("Adjusted
EBITDA") (983) (741)
Depreciation and amortisation (790) (1,002)
Debt related expenses (2) -
Loss on disposal of tangible assets (1) (2)
Unrealised foreign exchange (loss)/gain (477) 795
Gain on extinguishment of debt 127 -
Share-based payment expense (38) (67)
-------------- --------------
Operating loss (2,164) (1,017)
-------------------------------------------- ------ --- -------------- --- --------------
Net finance charge (155) (214)
Loss before taxation (2,319) (1,231)
Taxation credit 68 112
Loss for the period (2,251) (1,119)
Loss for the period attributable to:
Equity shareholders of the parent (2,251) (1,119)
-------------- --------------
(2,251) (1,119)
-------------- --------------
Other comprehensive income
Item that may be reclassified subsequently
to profit and loss
Exchange gain on translating foreign
operations 329 442
-------------- --------------
Total comprehensive loss for the period (1,922) (677)
Total comprehensive loss for the period
attributable to:
Equity shareholders of the parent (1,922) (677)
-------------- --------------
(1,922) (677)
-------------- --------------
Loss per ordinary share
Basic and diluted earnings per share 5 (0.06p) (0.03p)
All amounts relate to continuing activities.
Interim consolidated statement of financial position
at 30 June 2023
30 June 31 December
2023 2022
(unaudited) (audited)
GBP'000 GBP'000
Assets
Non-current assets
Goodwill 5,023 5,167
Other intangible assets 2,060 2,244
Property, plant and equipment 13 11
Right of use assets 252 369
-------------- -------------
7,348 7,791
Current assets
Trade and other receivables 808 1,462
Cash and cash equivalents 1,351 1,900
-------------- -------------
2,159 3,362
Total assets 9,507 11,153
Current liabilities
Trade and other payables 3,623 3,853
Lease liabilities 489 493
Loans and borrowings - 2,974
Derivative financial liability 255 255
-------------- -------------
4,367 7,575
-------------- -------------
Net current liabilities (2,208) (4,213)
Non-current liabilities
Trade and other payables 30 30
Lease liabilities - 122
Loans and borrowings 3,668 -
Deferred tax liability 174 245
-------------- -------------
3,872 397
Total liabilities 8,239 7,972
Net Assets 1,268 3,181
============== =============
Equity
Share capital 3,567 3,567
Share premium reserve 20,517 20,517
Merger reserve (190) (190)
Convertible debt reserve 195 224
Foreign exchange reserve (119) (448)
Share-based payment reserve 3,083 3,045
Retained losses (25,785) (23,534)
---------- ---------
Total equity 1,268 3,181
========== =========
Interim consolidated statement of cash flows
for the six months ended 30 June 2023
6 months 6 months
to to
30 June 30 June
2023 2022
(unaudited) (unaudited)
GBP'000 GBP'000
Cash flows from operating activities
Loss for the period (2,251) (1,119)
Adjustments for:
Deferred tax credit (68) (112)
Net finance charge 155 214
Depreciation and amortisation 790 1,002
Loss on disposal of tangible assets 1 2
Unrealised foreign exchange loss/(gain) 477 (795)
Share-based payment expense 38 67
Bad debt provision - (49)
Income taxes received - 38
Gain on extinguishment of debt (127) -
Debt related expenses (149) -
-------------- --------------
(1,134) (752)
Decrease in trade and other receivables 654 185
Decrease in trade and other payables (242) (565)
-------------- --------------
412 (380)
Net cash outflows from operating
activities (722) (1,132)
============== ==============
Cash flows from investing activities
Purchases of intangible assets (490) (406)
Purchases of property, plant and (4) -
equipment
-------------- --------------
Net cash used in investing activities (494) (406)
============== ==============
Financing activities
Lease payments principal (114) (106)
Lease payments interest (11) (19)
Loans and borrowings receipts 4,000 -
Loans and borrowings repayments (3,208) (142)
-------------- --------------
Net cash from/(used in) financing
activities 667 (267)
============== ==============
Net decrease in cash and cash equivalents (549) (1,805)
Cash and cash equivalent at beginning
of the period 1,900 5,362
Cash and cash equivalent at end
of the period 1,351 3,557
============== ==============
Notes to the interim financial information
1. General information
KRM22 Plc (the "Company") is a public limited company
incorporated in England and Wales on 2 March 2018 under
registration number 11231735. The address of its registered office
is 5 Ireland Yard, London, EC4V 5EH. The Company listed on the
London Stock Exchange on 30 April 2018.
The principal activity the Company and together with its
subsidiaries (the "Group") is to develop and invest in leading risk
tools to support regulatory, market, technology and operational
risks.
The Board of Directors approved this interim report on 25
September 2023.
2. Basis of preparation and consolidation
These interim consolidated financial statements have been
prepared using accounting policies based on International Financial
Reporting Standards (IFRS and IFRIC Interpretations) issued by the
International Accounting Standards Board ("IASB") in conformity
with the requirements of the Companies Act 2006. They do not
include all disclosures that would otherwise be required in a
complete set of financial statements and should be read in
conjunction with the 31 December 2022 Annual Report. The financial
information for the half years ended 30 June 2023 and 30 June 2022
does not constitute statutory accounts within the meaning of
Section 434 (3) of the Companies Act 2006 and both periods are
unaudited.
The annual financial statements of KRM22 Plc (the "Group") are
prepared in accordance with IFRS. The statutory Annual Report and
Financial Statements for 2022 have been filed with the Registrar of
Companies. The Independent Auditors' Report on the Annual Report
and Financial Statements for the year ended 31 December 2022 was
unqualified and did not contain a statement under 498(2) or 498(3)
of the Companies Act 2006.
The Group has applied the same accounting policies and methods
of computation in its interim consolidated financial statements as
in its 31 December 2022 annual financial statements, except for
those that relate to new standards and interpretations effective
for the first time for periods beginning on (or after) 1 January
2023 and will be adopted in the 2023 financial statements. There
are deemed to be no new and amended standards and/or
interpretations that will apply for the first time in the next
annual financial statements that are expected to have a material
impact on the Group.
3. Going concern
In carrying out the going concern assessment, the Directors have
undertaken a significant assessment of the cashflow forecasts for
the next twelve months including, but not limited to, existing
customer churn at different churn rates, no new contracted sales
revenue, delayed sales and a combination of these different
scenarios.
Having assessed the sensitivity analysis on cashflows, the key
risks to KRM22 remaining a going concern without implementing
extensive cost reduction measures is existing customers paying on
payment terms and within 45 days of invoice, customer churn of up
to 10%, conversion of the sales opportunities that are currently at
contract negotiation stage and maintaining control of the cost
base.
If the forecasts are achieved, KRM22 will be able to operate
within its existing facilities. However, the time to close new
customers and the value of each customer, which are deemed
individually as high value and low volume in nature, is key.
Reasonable downside scenarios have been considered and management
consider with appropriate actions being taken KRM22 has the ability
to meet the various financial covenants associated with the
Convertible Loan with Trading Technologies International, Inc
("TT").
Given KRM22's forecast, visible sales pipeline and working
capital needs, the Directors have considered it is appropriate to
prepare the interim financial statements on a going concern
basis.
4. Revenue (and segmental reporting)
The Board of Directors, as the chief operating decision maker in
accordance with IFRS 8 Operating Segments, has determined that
KRM22 have identified two areas of risk management as operating
segments, together with a third segment where the two areas of risk
management are not easily separable, however for reporting purposes
into a single global business unit and operates as a single
operating segment, as the nature of services delivered are
common.
The Directors consider that the business has two areas of risk
management: Trading Risk and Corporate Risk. Within these segments,
there are two revenue streams with different characteristics, which
are generated from the same assets and cost base.
6 months 6 months
to to
30 June 30 June
2023 2022
(unaudited) (unaudited)
GBP'000 GBP'000
Recurring 2,251 1,833
Non-recurring revenue 151 71
Total 2,402 1,904
============== ==============
KRM22's revenue from external customers by geography and risk
domain is detailed below:
6 months 6 months
to to
30 June 30 June
2023 2022
(unaudited) (unaudited)
GBP'000 GBP'000
UK 897 782
Europe 398 350
USA 944 628
Rest of world 163 144
-------------- --------------
Total 2,402 1,904
============== ==============
6 months 6 months
to to
30 June 30 June
2022 2022
(unaudited) (unaudited)
GBP'000 GBP'000
Trading Risk 1,209 875
Corporate Risk 1,113 959
Multiple Risk 80 70
Total 2,402 1,904
============== ==============
5. Loss per share
Basic earnings per share is calculated by dividing the loss
attributable to the equity holders of KRM22 by the weighted average
number of shares in issue during the period.
KRM22 has dilutive ordinary shares, this being warrants and
options granted to employees. As KRM22 has incurred a loss in both
periods, the diluted loss per share is the same as the basic
earnings per share as the loss has an anti-dilutive effect.
6 months 6 months to
to
30 June 30 June 2022
2023
(unaudited) (unaudited)
GBP'000 GBP'000
Loss for the period attributable to equity
shareholders of the parent (2,251) (1,119)
Basic weighted average number of shares
in issue 35,666,336 35,666,336
Diluted weighted average number of shares
in issue 46,958,070 46,647,659
Basic and diluted loss per share (pence) (0.06) (0.03)
6. Intangibles
The Group capitalised GBP0.5m of costs (H1 2022: GBP0.4m, FY
2022: GBP0.8m) representing the development of KRM22's products
during the period, resulting in a net book value of GBP1.3m (H1
2022: GBP1.3m, FY 2022: GBP1.3m) after an amortisation and
impairment charge of GBP0.4m (H1 2022: GBP0.4m, FY 2022:
GBP0.7m).
7. Cautionary statement
This document contains certain forward-looking statements
relating to KRM22 plc (the "Group"). The Group considers any
statements that are not historical facts as "forward-looking
statements". They relate to events and trends that are subject to
risk and uncertainty that may cause actual results and the
financial performance of the Group to differ materially from those
contained in any forward-looking statement. These statements are
made by the Directors in good faith based on information available
to them and such statements should be treated with caution due to
the inherent uncertainties, including both economic and business
risk factors, underlying any such forward-looking information.
Copies of this report and all other announcements made by KRM22
plc are available on the Company's website at
https://krm22.com/investors
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IR FFFILAFIEFIV
(END) Dow Jones Newswires
September 26, 2023 02:00 ET (06:00 GMT)
Krm22 (LSE:KRM)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Krm22 (LSE:KRM)
Gráfica de Acción Histórica
De May 2023 a May 2024