REG - TPXimpact Holdings - Annual Report/Financial Statements & Notice of AGM

Tpximpact HoldingsAnnouncement

07/09/2022 07:00

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RNS Number : 5188Y  TPXimpact Holdings PLC  07 September 2022

7 September 2022

TPXimpact Holdings PLC

("TPXimpact", "TPX", the "Group" or the "Company")

Finalisation and posting of Annual Report and Financial Statements

Notice of AGM

TPXimpact Holdings PLC, the technology-enabled services company focused on
digital transformation, confirms it has today posted its report and accounts
for the financial year ended 31 March 2022, together with the notice of AGM,
to those shareholders who have requested hard copies. Electronic copies of
both documents are available to download on the Company's website at
www.tpximpact.com/investor-relations
(http://www.tpximpact.com/investor-relations) in accordance with AIM Rule 20.

The Annual Report includes the audited Group and Company Financial Statements
for the year ended 31 March 2022. Following completion of the final audit,
there are a number of differences from the unaudited preliminary results that
are set out below. None of these differences have impacted the Group's
previously reported adjusted EBITDA or cash flows for the year ended 31 March
2022.

Taxation

The charge for taxation included in the unaudited consolidated income
statement of £2.4 million (as per the Preliminary Results) has reduced to a
charge of £1.8 million in the audited consolidated income statement (included
in the audited Group financial statements). The change is due to the
finalisation and subsequent audit of the Group's corporate tax computation for
the year ended 31 March 2022 and has had a positive impact on adjusted and
reported EPS as set out further below.

Gain from fair value movement in contingent consideration

The gain from fair value movement in contingent consideration in the unaudited
consolidated income statement of £2.5 million (as per the Preliminary
Results) has reduced to a gain of £0.2million in the audited consolidated
income statement (included in the audited Group financial statements). The
change is due to management reclassifying certain movements in the fair value
of contingent consideration from the consolidated income statement to equity,
due to a reconsideration of the nature of these transactions as
equity-related. As set out in the preliminary results, management adjust out
this gain when looking at the underlying performance of the business.

Overall impact on changes

Neither of these amendments has impacted the Group's previously reported
adjusted EBITDA or cash flows for the year ended 31 March 2022. However, the
change in corporate taxation charge has increased reported and adjusted profit
after tax and, therefore, reported and adjusted earnings per share. In
addition, the change in gain from fair value movement in contingent
consideration has reduced reported profits and, therefore, reported earnings
per share.

These amendments have not had a material impact on the Group's consolidated
balance sheet. Net assets are £78.6 million in the audited Consolidated
Statement of Financial Position (previously reported as £78.7 million in the
Preliminary Results).

Basic and diluted earnings per share have changed as follows:

                                                               Audited Financial Statements  Unaudited Preliminary Results
 Reported basic earnings per share on continuing operations    1.0p                          2.1p
 Reported diluted earnings per share on continuing operations  0.9p                          2.0p
 Adjusted diluted earnings per share on continuing operations  10.0p                         9.4p

 

The Group's Annual General Meeting ("AGM") will be held on 30 September 2022
at 11 a.m. at the offices of Stifel Nicolaus Europe Limited, 150 Cheapside,
Fourth Floor, London, EC2V 6ET.

TPX invites shareholders to submit questions in advance of the AGM by emailing
them to tpx@almapr.co.uk.

Questions should be submitted by 9 a.m. on 28 September 2022 and the Company
will ensure, to the extent practicable, that the answers are directly
responded to, with responses to questions of common interest also made
available on its website at www.tpximpact.com (http://www.tpximpact.com) as
soon as practical following the meeting.

 

ENDS

Enquiries:

 TPXimpact Holdings

 Neal Gandhi (CEO)                Via Alma PR

 Oliver Rigby (CFO)

 Stifel Nicolaus Europe Limited   +44 (0) 207 710 7600

 (Nomad and Joint Broker)

 Alex Price

 Fred Walsh

 Ben Burnett
 Dowgate Capital Limited           +44 (0) 203 903 7715

 (Joint Broker)

 James Serjeant

 Russell Cook
 Alma PR                          tpx@almapr.co.uk

 (Financial PR)                   +44 (0) 203 405 0205

 Josh Royston

 Kieran Breheny

 Matthew Young

 

About TPXimpact

TPXimpact exists to transform the organisations, services and systems that
underpin society and that drive business success. It applies strategic and
creative thinking, technology, innovative design and user-centred approaches
to bring about numerous improvements which together multiply the impact of
change.

The Company works closely with its clients in agile, multidisciplinary teams
that span organisational design, technology, and digital experiences. It
shares a deep understanding of people and behaviours and a philosophy of
putting people and communities at the heart of every transformation.

The business is being increasingly recognised as a leading alternative digital
transformation provider to the UK public services sector, with c.72     %
of its client base representing the public sector and c.28     %
representing the commercial sector.

 

More information is available at www.tpximpact.com (http://www.tpximpact.com)
.

 

 

 

 

 

 

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