Statement re Share Price Movement
17/01/2018 07:00
RNS Number : 0673C
Gattaca PLC
17 January 2018
17 January 2018
Gattaca plc
Statement re: share price movement
Gattaca plc ("Gattaca" or the "Group"), the specialist Engineering and Technology (IT & Telecoms) recruitment solutions business, notes the recent share price fall.
Gattaca has historically provided recruitment solutions to Carillion plc and its subsidiaries, primarily in the public sector arena. Whilst Gattaca has outstanding debts from the Carillion group, the vast majority of these are insured by a leading credit insurer and, at this time, we estimate our uninsured balance sheet exposure to be less than 100,000. The impact of Carillion's liquidation on our balance sheet will therefore be minimal.
Our annual Net Fee Income from the Carillion group of companies is in the order of 0.5m. Gattaca continues to support the delivery of important public services and management is actively engaging with the relevant Carillion counterparties to ascertain how we can continue to support the related underlying projects which would also maintain this income, whilst ensuring that we will be paid for such services.
Gattaca's Trading Update for the six months ended 31st January will be released 8th February 2018.
For further information please contact:
| Gattaca plc | +44 (0) 1489 898989 |
| Brian Wilkinson, Chief Executive Officer Salar Farzad, Chief Financial Officer | |
| Citigate Dewe Rogerson | +44 (0) 20 7638 9571 |
| Louise Mason-Rutherford / Nick Hayns | |
| Numis Securities Limited | +44 (0) 20 7260 1000 |
| Michael Meade / Tom Ballard |