REG - Kooth PLC - Update on Pennsylvania pilot contract

KoothAnnouncement

18/10/2024 11:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241018:nRSR7981Ia&default-theme=true

RNS Number : 7981I  Kooth PLC  18 October 2024

18 October 2024

Kooth plc

 

("Kooth" or the "Company" or the "Group")

 

Update on Pennsylvania pilot contract

 

Kooth (AIM: KOO), a global leader in youth digital mental well-being, today
provides an update on its first pilot contract in Pennsylvania (the
"Contract"). The Company has received communication from the State of
Pennsylvania (the "State") regarding the Contract, exercising the State's
right to terminate with a 30 day notice period. The Contract, signed on 11
October, 2022, was intended to run until 30 June, 2024, and was subsequently
extended until June 2025, whilst negotiations on a new contract were ongoing.

 

From this latest communication, the status of Kooth's work in the State going
forward is unclear and therefore the Company is urgently seeking
clarification.

 

The Board's expectations for 2024 and 2025 remain unchanged.

 

This announcement contains inside information under the UK Market Abuse
Regulation. The person responsible for arranging for the release of this
announcement on behalf of the Company is Tim Barker, CEO.

 

ENDS

Enquiries:

 Kooth plc                                               investorrelations@k (mailto:investorrelations@kooth.com) ooth
                                                         (mailto:investorrelations@kooth.com) .com (mailto:investorrelations@kooth.com)
 Tim Barker, CEO
 Sanjay Jawa, CFO

 Stifel, Nominated Adviser & Sole Broker                 +44 (0) 20 7710 7600
 Ben Maddison, Nick Harland, Erik Anderson, Ben Good

 FTI Consulting, Financial PR                            Kooth (mailto:Kooth@fticonsulting.com) @fticonsulting.com
                                                         (mailto:Kooth@fticonsulting.com)
 Ben Atwell, Alex Shaw

 

About Kooth plc:

 

Kooth (AIM:KOO) 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.

 

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.

 

Kooth is the longest standing 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 2022/23 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.

 

For more information, please visit www.k (http://www.koothplc.com) ooth
(http://www.koothplc.com) plc.com (http://www.koothplc.com) .

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDMZMMGGRKGDZM