REG - Kinovo PLC - DCB (Kent) Ltd update

KinovoAnnouncement

03/10/2024 07:00

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RNS Number : 7265G  Kinovo PLC  03 October 2024

3 October 2024

 

("Kinovo", the "Group" or the "Company")

DCB (Kent) Ltd update

 

Kinovo Plc (AIM: KINO), the specialist property services Group that delivers
compliance and sustainability solutions, provides the following update
regarding DCB (Kent) Ltd ("DCB"), the Group's former construction division.

Works at the penultimate project concluded in September 2024. The Group has
agreed to complete additional further works at this property, which are now
underway and will be paid for separately by the client. This does not affect
the final cost to complete and the Company will confirm in due course once
practical completion has been achieved.

As previously announced, the performance bond of £0.9m relating to the final
project was deferred after agreeing to the resolution of the final of the nine
DBC projects. The Company is pleased that, having met their contractual
obligations with the required number of payments having been made, the
performance bond has now been released.

 

Enquiries

 

 Kinovo plc
 Sangita Shah, Chairman                                          +44 (0)20 7796 4133

 David Bullen, Chief Executive Officer                           (via Hudson Sandler)

 Canaccord Genuity Limited (Nominated Adviser and Sole Broker)   +44 (0)20 7523 8000
 Adam James

 Andrew Potts

 Harry Rees

 Hudson Sandler (Financial PR)                                   +44 (0)20 7796 4133
 Dan de Belder

 Harry Griffiths

 Will Reynish

 

 

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