REG - Kooth PLC - Result of 2023 AGM, update on California contract

KoothAnnouncement

29/06/2023 12:00

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RNS Number : 4063E  Kooth PLC  29 June 2023

29 June 2023

Kooth plc

("Kooth" or the "Group")

Result of 2023 Annual General Meeting and update on contract win in California

Kooth (AIM: KOO), a global leader in youth digital mental well-being,
announces that all of the resolutions set out in the Notice of the AGM were
passed by the requisite majority at the Company's AGM, held earlier today.

Update on timing for significant California contract win

Kooth announced a significant contract with the State of California on 16
March 2023. At that time, the Group expected to finalise the terms of the
contract during Q2 2023, with a further announcement to be made at that point.

The Group remains on track to finalise the contract shortly. A further
announcement will be made upon the finalisation of the definitive legal
documentation relating to this contract in due course.

- Ends -

The information contained within this announcement is considered to constitute
inside information as stipulated under Article 7 of the Market Abuse
Regulation (EU) no. 596/2014 as incorporated into UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("UK MAR").

 

 Kooth plc
 Tim Barker, CEO                                                                       investorrelations@kooth.com

 Sanjay Jawa, CFO
 Panmure Gordon, Nominated Adviser and joint Broker

 Corporate Finance:                                  +44 (0) 20 7886 2500

 Dominic Morley, James Sinclair-Ford, Daphne Zhang

 Corporate Broking:

 Rupert Deaden
 Stifel, Joint broker                                                                  +44(0) 20 7710 7600

 Ben Maddison, Nick Adams, Nicholas Harland, Richard Short
 FTI Consulting
 Jamie Ricketts, Alex Shaw, Usama Ali                                                  kooth@fticonsulting.com

 

Notes to Editors

About Kooth

Kooth is a global leader in youth digital mental well-being. Our mission is to
provide accessible and safe spaces for everyone to achieve better mental
health. Our platform is clinically robust and accredited to provide a range of
therapeutic support and interventions. All our services are predicated on easy
access to make early intervention and prevention a reality.

Our three services are:

·       Kooth: for children and young persons

·       Kooth: for adults

·       Kooth Work: for frontline employees

Kooth is a fully safeguarded and pre-moderated community with a library of
peer and professional created content, alongside access to experienced online
counsellors. There are no thresholds for support and no waiting lists.
Currently, Kooth sees more than 4,000 logins a day.

Kooth is the only digital mental health provider to hold a UK-wide
accreditation from the British Association of Counselling and Psychotherapy
(BACP) and according to NHS England data for 2021/22 is now the largest single
access provider for mental health support for under 18s

In 2021, Kooth began executing on its international expansion strategy, with
an initial focus on the US market. This focus is due to the growing
recognition of the importance of improving youth mental health in this key
global healthcare market, with 1-in-6 people aged 6-17 experiencing a mental
health disorder each year. Kooth's first pilot contract in the US was signed
in October 2022 with the State of Pennsylvania.

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