REG - TClarke PLC - Trading Statement

TclarkeAnnouncement

06/07/2023 07:00

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RNS Number : 1169F  TClarke PLC  06 July 2023

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
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6 July 2023

 

TClarke plc

Trading update and Revenue Expansion to Continue

 

TClarke plc ("TClarke", the "Group" or the "Company"), the Building Services
Group, issues a Trading Update covering the period from our AGM held 10 May
2023 to date.

 

Trading has continued to be strong, and the Board remains highly confident
that the Group will successfully deliver its growth strategy such that the
Group's revenues will exceed for the first time £500m in the current
financial year, in doing so achieving the three-year revenue growth strategy
set out by the Board in March 2021. The Group was £4.5m net cash positive at
30 June 2023.

 

We are pleased to be reporting a forward order book that has been replenished
and has been strengthened significantly; as of 30 June 2023 it stands at a
record £781m (2022: £586m). Having proactively invested in resources and
capacity to support the Group's growth ambitions, TClarke is well-positioned
to manage these additional revenues in our chosen market sectors.

 

In a separate announcement today, the Board is pleased to announce that it has
conditionally raised gross proceeds of £10.7 million by way of an
oversubscribed placing of new ordinary shares in the Company in order to fund
significant further expansion beyond 2023.

 

The net proceeds of the Placing will further strengthen the Group's balance
sheet and will provide additional resources with which to capture and deliver
additional identified short to medium term attractive contract opportunities
in the London business - in doing so driving further growth and margin
expansion.

 

The Board is encouraged by the strength of the Group's position in the market.

 

TClarke will be reporting its half year results for the six months ended 30
June 2023 on 13(th) July 2023.

 

Mark Lawrence, TClarke CEO, commented:

 

"All of us at TClarke remain absolutely focused on our approach to targeted
tendering, risk management and the successful delivery of our projects.

 

Today's record forward order book which will convert to planned revenue
expansion in the medium term is without doubt a significant milestone for
TClarke and we are grateful for the support and trust given to TClarke and our
teams to deliver for our clients."

 

 

 

For further information, please contact:

 

 TClarke PLC                                                 +44 (0) 20 7997 7400
 Mark Lawrence, Chief Executive Officer                       http://www.tclarke.co.uk (http://www.tclarke.co.uk)

 Trevor Mitchell, Finance Director

 Cenkos Securities plc (Sole Broker)                         +44 (0) 20 7397 8900
 Ben Jeynes / Max Gould / Hamish Waller (Corporate Finance)
 Dale Bellis / Jasper Berry (Sales)

 RMS Partners                                                +44 (0) 20 3735 6551
 Simon Courtenay

 

Important notices

 

The distribution of this Announcement and any other documentation associated
with the Placing into jurisdictions other than the United Kingdom may be
restricted by law.  Persons into whose possession these documents come should
inform themselves about and observe any such restrictions.  Any failure to
comply with these restrictions may constitute a violation of the securities
laws or regulations of any such jurisdiction.  In particular, such documents
should not be distributed, forwarded to or transmitted, directly or
indirectly, in whole or in part, in, into or from the United States,
Australia, Canada, Japan or the Republic of South Africa or any other
jurisdiction where to do so may constitute a violation of the securities laws
or regulations of any such jurisdiction (each a "Restricted Jurisdiction").

 

This Announcement is not an offer of securities for sale into the United
States.  The new ordinary shares to be issued pursuant to the Placing (the
"Placing Shares") have not been and will not be registered under the US
Securities Act 1933 as amended (the "US Securities Act") or with any
securities regulatory authority of any state or other jurisdiction of the
United States and, accordingly, may not be offered, sold, resold, taken up,
transferred, delivered or distributed, directly or indirectly, within the
United States except pursuant to an applicable exemption from, or in a
transaction not subject to, the registration requirements of the US Securities
Act and in compliance with any applicable securities laws of any state or
other jurisdiction of the United States. There will be no public offer of the
Placing Shares in the United States.

 

The Placing Shares have not been and will not be registered under the relevant
laws of any state, province or territory of any Restricted Jurisdiction and
may not be offered, sold, resold, taken up, transferred, delivered or
distributed, directly or indirectly, within any Restricted Jurisdiction except
pursuant to an applicable exemption from registration requirements.  There
will be no public offer of Placing Shares.

 

This Announcement is for information purposes only and does not constitute or
form part of any offer to issue or sell, or the solicitation of an offer to
acquire, purchase or subscribe for, any securities in any jurisdiction and
should not be relied upon in connection with any decision to subscribe for or
acquire any of the Placing Shares (as the case may be).  In particular, this
Announcement does not constitute or form part of any offer to issue or sell,
or the solicitation of an offer to acquire, purchase or subscribe for, any
securities in the United States.

 

 

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