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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Cdialogues | LSE:CDOG | London | Ordinary Share | GB00BN40HL64 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 65.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMCDOG
RNS Number : 4807B
CDialogues PLC
17 June 2016
17 June 2016
CDialogues plc
("CDialogues", the "Company" or the "Group")
Termination of contracts and initiation of business review
CDialogues plc (AIM: CDOG) announces that the Group has received a notice of termination from Numbase Limited ("Numbase") in respect of the four contracts from which CDialogues generates all of its current revenues.
CDialogues has historically provided its services and received its revenues pursuant to agreements entered into with local partners, such as Numbase, rather than directly with the underlying Mobile Network Operators. The notice of termination indicates that Numbase wishes to terminate the contracts under which the Group provides mobile marketing and campaign services to Alfa in Lebanon, Touch in Lebanon, Zain in Kuwait and VIVA in Kuwait.
CDialogues is in discussion with Numbase in respect of the notice of termination, in order to seek alternative outcomes. The four contracts in question have different termination provisions, but should Numbase proceed with the termination, then the Board believes that the four contracts would have been terminated by the end of September 2016, at the latest.
In light of the notice of termination and the recent difficulties that the Company has experienced, including the Board's view that the Company is unlikely to engage in any new contracts until market conditions improve (as described in the Company's announcement of 26 May 2016), the Board has determined that it is appropriate to conduct a review of CDialogues' business and assets. The Group currently has a strong cash position and has no debt. The Board will consider all options to seek to mitigate losses, sustain the Group's cash balances to the greatest extent possible and preserve shareholder value.
Further announcements will be made as appropriate.
CDialogues Plc Tel: +30 2106 300 930 George Karakovounis Pale Spanos Allenby Capital Tel: 0203 328 5656 Limited David Hart Alex Brearley Walbrook PR Tel: 020 7933 8780/ cdialogues@walbrookpr.com Ltd Paul Cornelius Mob: 07866 384 707 Nick Rome Mob: 07748 325 236
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
June 17, 2016 02:00 ET (06:00 GMT)
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