REG - TPXimpact Holdings - Covenant Waiver and Current Trading

Tpximpact HoldingsAnnouncement

31/03/2023 07:00

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RNS Number : 8489U  TPXimpact Holdings PLC  31 March 2023

 

31 March 2023

TPXimpact Holdings PLC

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

 

Covenant Waiver and Current Trading

 

TPXimpact Holdings PLC (AIM: TPX), the technology-enabled services company
focused on digital transformation, provides an update in relation to its debt
covenants.

Further to the announcement made on 31 January 2023, the Group reports that it
has been granted a waiver from the requirement to test each of the financial
covenants applicable to its £30m revolving credit facility as of 31 March
2023. TPXimpact's lender is currently undertaking a review of the Group's
short and medium term cash flow forecasts, the outcome of which will determine
the nature and extent of future waivers. A further update will be provided
when this review is concluded.

Current trading performance

The Board confirms trading in January and February 2023 was in line with
management expectations. In addition, the momentum in new orders has continued
in Q4 FY23, with new business wins of over £30m in the quarter.

 

 Enquiries:

 TPXimpact Holdings               Via Alma PR

 Steve Winters, Group 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

 David Poutney

 Russell Cook
 Alma PR                          tpx@almapr.co.uk

 (Financial PR)                   +44 (0) 203 405 0209

 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.65% of its
client base representing the public sector and c.35% representing the
commercial sector.

More information is available at www.tpximpact.com .

 

 

 

 

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