Share Name Share Symbol Market Type Share ISIN Share Description
Arcontech Group LSE:ARC London Ordinary Share GB00BDBBJZ03 ORD GBP0.125
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 65.00p 63.00p 67.00p 65.00p 65.00p 65.00p 5,237 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 2.3 0.4 3.8 17.2 8.32

Arcontech Group PLC Final Results

14/08/2017 7:00am

UK Regulatory (RNS & others)


Arcontech (LSE:ARC)
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Arcontech Group PLC

14 August 2017

ARCONTECH GROUP PLC

("Arcontech", the "Company" or the "Group")

Final Results for the year ended 30 June 2017

Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, is pleased to announce its final audited results for the year ended 30 June 2017.

Financial Highlights:

   --      Revenue of GBP2,307,751 (2016:GBP2,141,630) 
   --      Adjusted profit before tax* of GBP441,996 (2016: GBP329,260) 
   --      Profit before tax of GBP373,263 (2016:GBP302,329) 
   --      Cash balance of GBP2,636,471 (2016:GBP1,633,159) 
   --      Basic earnings per share of 3.79p (2016 3.38p) 
   --      Maiden final dividend of 1 pence per share 

*Adjusted for share-based payments

Operational Highlights:

-- Healthy injection of new contracts mainly through additional sales of server-side infrastructure solutions to existing customers, with full benefit to come in 2017/18

   --      New desktop software solution currently in proof of concept trials at five Tier 1 banks 
   --      Continued investment in sales & marketing with increased sales focus on Asia 
   --      Increased participation in the fintech community with wider benefits for the group 
   --      Strong cash generation 

Commenting on the results, Richard Last, Chairman of Arcontech said:

"Arcontech is a well-run business where costs, including continued product investment, are well controlled such that increases in revenue materially improve profitability. Our focus is, therefore, on winning new business. Whilst we believe the opportunities for increased sales exist, the sales cycle is unpredictable and remains longer than we would like. Our prospects are positive, albeit they need to be tempered against uncertainties in the investment banking and finance sectors, as a result of the low interest rate environment and issues following Brexit."

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

 
                                   020 7256 
 Arcontech Group plc                2300 
 Richard Last, Chairman and 
  Non-Executive Director 
 Matthew Jeffs, Chief Executive 
 
                                   020 7220 
 finnCap Ltd (Nomad & Broker)       0500 
 Carl Holmes/Simon Hicks 
 
 

To access more information on the Group please visit: www.arcontech.com

Chairman's Statement

Arcontech Group plc ("Arcontech" or the "Company") is pleased to report a profit before share-based payments and taxation for the year ended 30 June 2017 of GBP441,996 (2016: GBP329,260), a year-on-year increase of 34.2%. After taking the benefit of the Research and Development tax credit of GBP96,988 (2016: GBP105,813) which the Company receives, due to the amount it has invested in qualifying product design and development and the cost of share based payments of GBP68,733 (2016: GBP26,931), Arcontech achieved a profit after tax of GBP470,251 (2016: GBP408,142) for the year.

Turnover for the year increased by 7.8% to GBP2,307,751 (2016: GBP2,141,630) this was achieved mainly through additional sales of server-side infrastructure solutions to existing customers. The level of new sales has not yet benefitted from the new business expected from our new desktop software solution launched earlier in the year. Expected desktop solution sales in 2018 and the full year effect of the net new sales achieved in the year ended 30 June 2017 is expected to lead to an increase in turnover for the year ending 30 June 2018.

We have continued to operate tight cost control throughout the year, whilst maintaining investment in product development and enhancement, which we expect to sustain going forward. The sales resource was increased during the year, which, together with marketing, are areas where we expect to see additional investment in 2018.

Financing

As at 30 June 2017 Arcontech had net cash balances of GBP2,636,471 (2016: GBP1,633,159), reflecting increased profitability and an improved working capital position. The business is well financed for the future and has a robust balance sheet.

Dividend and Share Consolidation

Having completed the cancellation of the share premium account (creating positive distributable reserves) and the share consolidation, I am pleased to announce that subsequent to the year-end we agreed to propose, subject to approval at the Annual General Meeting, to pay a maiden dividend of 1 pence per share for the year ended 30 June 2017, to those shareholders on the register as at the close of business on 25 August 2017, with an ex-dividend date of 24 August 2017.

Employees

We have a small team of dedicated employees who are the core of our business. I would like to thank them for their hard work and continued support which is greatly appreciated.

Outlook

Arcontech is a well-run business where costs, including continued product investment, are well controlled such that increases in revenue materially improve profitability. Our focus is, therefore, on winning new business. Whilst we believe the opportunities for increased sales exist, the sales cycle is unpredictable and remains longer than we would like. Our prospects are positive, albeit they need to be tempered against uncertainties in the investment banking and finance sectors, as a result of the low interest rate environment and issues following Brexit.

Richard Last

Chairman and Non-Executive Director

Chief Executive's Review

I am pleased to report that during the year our continued attention to costs whilst building out and delivering on the sales pipeline resulted in a profit before tax of GBP373,263 (2016: GBP302,329), an increase of 23.5% compared to the previous year.

During the year under review we have further reconfirmed the value of our products and quality of support to the market by increasing the use of our server-side solutions such as our real-time last value cache and symbol mapper with existing clients, and on the desktop with Excelerator, whilst not receiving a single contract cancellation.

We continue to progress the sales pipeline and improve our product offering by adding functionality to existing products as well as enhancing our new desktop software solution. This software solution continues to be of significant interest to our clients, with one of the trials with Tier 1 clients culminating in a signed agreement for its deployment in New York. It is hoped by both ourselves, and our client, that it will expand from there and be rolled out in additional office locations over coming months. The prospects elsewhere, whilst taking time, continue to develop and are looking promising.

To increase sales growth, in January 2017 we recruited a sales person in Hong Kong to explore opportunities in this region.

During the year we have also increased our participation in the fintech community, where we believe we can both add and receive value. This includes becoming members of the OpenMAMA steering committee and more recently, the Symphony Foundation. Both these global, open source, not for profit organisations include major Tier 1 clients and non-clients as members, who we are working closely with, whilst providing vendor agnostic solutions to the market data needs of the broader financial community.

The outlook for the business remains positive and to date unaffected by the wider uncertainties surrounding Brexit. The length of the sales cycle is something that is a constant and the only realistic way to address it is to create more sales opportunities. This is being done by building solutions that increase the addressable market whilst increasing our sales resource. As a result, the sales pipeline is looking healthy.

In order to supplement the Company's growth strategy, we will continue to review prospective complementary acquisition opportunities.

With such a strong foundation, we will keep working to strengthen our position by focusing on increasing revenues. Going forward, sales growth remains our clear priority.

Matthew Jeffs

Chief Executive

Strategic Report

The Directors present the group strategic report for Arcontech Group plc and its subsidiaries for the year ended 30 June 2017.

Principal activities

The principal activities of the Company and its subsidiaries during the year were the development and sale of proprietary software and provision of computer consultancy services.

Review of the business and prospects

A full review of the operations, financial position and prospects of the Group is given in the Chairman's Statement and Chief Executive's Review above.

Key performance indicators (KPIs)

The Directors monitor the business using management reports and information, reviewed and discussed at monthly Board meetings. Financial and non-financial KPIs used in this report include:

Financial KPIs:

 
 Revenue GBP2,307,751 (2016:          Measurement: 
  GBP2,141,630; 2015: GBP2,129,958)    Revenue from sales made 
                                       to all customers (excluding 
                                       intra-group sales which 
                                       eliminate on consolidation) 
 
                                       Performance: 
                                       Continued growth driven 
                                       by increased sales of 
                                       our product offering 
-----------------------------------  --------------------------------------------- 
 Adjusted profit GBP441,996           Measurement: 
  (2016: GBP329,260; 2015:             Profit before share based 
  GBP263,859)                          payments and tax 
 
                                       Performance: 
                                       Continued growth reflects 
                                       increase in revenues whilst 
                                       continuing to maintain 
                                       tight cost control 
-----------------------------------  --------------------------------------------- 
 Cash GBP2,636,471 (2016:                      Measurement: 
  GBP1,633,159; 2015: GBP1,069,755)             Cash and cash equivalents 
                                                held at the end of the 
                                                year 
 
                                                Performance: 
                                                The Group intends to maintain 
                                                cash balances at this 
                                                level subject to any exceptional 
                                                items or acquisition opportunities 
                                                that may arise 
-----------------------------------  --------------------------------------------- 
 

Non-financial KPIs:

 
 Staff retention rate (net)   Measurement: 
  100% (2016: 93%; 2015:       Net movement in joiners 
  93%)                         and leavers as a percentage 
                               of the number of staff 
                               at the beginning of the 
                               year 
 
                               Performance: 
                               Staff morale from our 
                               dedicated employees remains 
                               strong, reflected in the 
                               net increase 
---------------------------  ----------------------------- 
 

Principal risks and uncertainties

The Group's performance is affected by a number of risks and uncertainties, which the Board monitor on an ongoing basis in order to identify, manage and minimise their possible impact. General risks and uncertainties include changes in economic conditions, interest rate fluctuations and the impact of competition. The Group's principal risk areas and the action taken to mitigate their outcome are shown below:

 
 Risk area               Mitigation 
 
 Competition             Ongoing investment in research and development 
                         Responding to the changing needs of clients to remain competitive 
 
 Loss of key personnel   Employee share option scheme in place 
 
 

Approved on behalf of the board on 11 August 2017 by:

 
 Matthew Jeffs     Michael Levy 
 Chief Executive   Group Finance Director 
 

Group Income Statement and Statement of Comprehensive Income

For the year ended 30 June 2017

 
 
 
                                                                       2016 
                                                       2017     as restated 
                                                        GBP             GBP 
 
 Revenue                                          2,307,751       2,141,630 
 
 Administrative costs                           (1,942,430)     (1,849,257) 
 
 
   Operating profit                                 365,321         292,373 
 
   Finance income                                     7,942           9,956 
 
 
   Profit before taxation                           373,263         302,329 
 
 
   Taxation                                          96,988         105,813 
 
   Profit for the year after tax                    470,251         408,142 
---------------------------------------------  ------------  -------------- 
 
   Total comprehensive income for the year          470,251         408,142 
---------------------------------------------  ------------  -------------- 
 
 
   Earnings per share (basic)                         3.79p           3.38p 
---------------------------------------------  ------------  -------------- 
 
   Earnings per share (diluted)                       3.68p           3.25p 
---------------------------------------------  ------------  -------------- 
 

Comparative figures for the year ended 30 June 2016 have been restated to take into account the share consolidation carried out in September 2016.

All of the results relate to continuing operations.

Statement of Changes in Equity

For the year ended 30 June 2017

Group:

 
                                                  Share         Share                             Retained       Total 
                                                capital       premium   Share option reserve      earnings      equity 
                                                    GBP           GBP                    GBP           GBP         GBP 
 Balance at 30 June 2015                      1,536,672     9,430,312                 92,761   (9,269,623)   1,790,122 
 
 Profit for the year                                  -             -                      -       408,142     408,142 
 
   Total comprehensive income for the year            -             -                      -       408,142     408,142 
 
 Cancellation of share premium account                -   (9,430,312)                      -     9,430,312           - 
 
 Issue of shares                                  5,060         2,024                      -             -       7,084 
 
 Share-based payments                                 -             -                 26,931             -      26,931 
 
   Balance at 30 June 2016                    1,541,732         2,024                119,692       568,831   2,232,279 
 
 Profit for the year                                  -             -                      -       470,251     470,251 
 
   Total comprehensive income for the year    1,541,732         2,024                119,692     1,039,082   2,702,530 
 
 Issue of shares                                 20,944         7,778                      -             -      28,722 
 
 Share-based payments                                 -             -                 68,733             -      68,733 
 
   Balance at 30 June 2017                    1,562,676         9,802                188,425     1,039,082   2,799,985 
-------------------------------------------  ----------  ------------  ---------------------  ------------  ---------- 
 

Company:

 
                                                  Share         Share                             Retained       Total 
                                                capital       premium   Share option reserve      earnings      equity 
                                                    GBP           GBP                    GBP           GBP         GBP 
 Balance at 30 June 2015                      1,536,672     9,430,312                 92,761   (7,797,685)   3,262,060 
 
 Profit for the year                                  -             -                      -        10,899      10,899 
-------------------------------------------  ----------  ------------  ---------------------  ------------  ---------- 
 
   Total comprehensive expense for the year           -             -                      -        10,899      10,899 
 
 Cancellation of share premium account                -   (9,430,312)                      -     9,430,312           - 
 
 Issue of shares                                  5,060         2,024                      -             -       7,084 
 
 Share-based payments                                 -             -                 26,931             -      26,931 
-------------------------------------------  ----------  ------------  ---------------------  ------------  ---------- 
 
 Balance at 30 June 2016                      1,541,732         2,024                119,692     1,643,526   3,306,974 
 
 Profit for the year                                  -             -                      -     1,418,859   1,418,859 
-------------------------------------------  ----------  ------------  ---------------------  ------------  ---------- 
 
 Total comprehensive income for the year      1,541,732         2,024                119,692     3,062,385   4,725,833 
 
 Issue of shares                                 20,944         7,778                      -             -      28,722 
 
 Share-based payments                                 -             -                 68,733             -      68,733 
 Balance as at 30 June 2017                   1,562,676         9,802                188,425     3,062,385   4,823,288 
-------------------------------------------  ----------  ------------  ---------------------  ------------  ---------- 
 

Balance Sheets

Registered number: 04062416

As at 30 June 2017

 
                                     Group          Group      Company        Company 
                                      2017           2016         2017           2016 
                                       GBP            GBP          GBP            GBP 
 Non-current assets 
 
 Goodwill                        1,715,153      1,715,153            -              - 
 
 Property, plant 
  and equipment                     33,825         44,785            -              - 
 
 Investments in 
  subsidiaries                           -              -    2,017,373      2,017,373 
 
   Trade and other 
   receivables                     141,750        141,750            -              - 
 Total non-current 
  assets                         1,890,728      1,901,688    2,017,373      2,017,373 
---------------------------  -------------  -------------  -----------  ------------- 
 
 Current assets 
 
 Trade and other 
  receivables                      175,496        265,360    1,806,341        206,769 
 
 Cash and cash equivalents       2,636,471      1,633,159    1,658,039      1,272,292 
---------------------------  -------------  -------------  -----------  ------------- 
 Total current assets            2,811,967      1,898,519    3,464,380      1,479,061 
---------------------------  -------------  -------------  -----------  ------------- 
 
 Current liabilities 
 
 Trade and other 
  payables                     (1,902,710)    (1,567,928)    (658,465)      (189,460) 
---------------------------  -------------  -------------  -----------  ------------- 
 Total current liabilities     (1,902,710)    (1,567,928)    (658,465)      (189,460) 
---------------------------  -------------  -------------  -----------  ------------- 
 
 Net current assets                909,257        330,591    2,805,915      1,289,601 
---------------------------  -------------  -------------  -----------  ------------- 
 
 Net assets                      2,799,985      2,232,279    4,823,288      3,306,974 
---------------------------  -------------  -------------  -----------  ------------- 
 
 Equity 
 
 Called up share 
  capital                        1,562,676      1,541,732   1,562,676      1,541,732 
 
 Share premium account               9,802          2,024        9,802          2,024 
 
 Share option reserve              188,425        119,692     188,425        119,692 
 
 Retained earnings               1,039,082        568,831   3,062,385      1,643,526 
---------------------------  -------------  -------------  -----------  ------------- 
                                 2,799,985      2,232,279   4,823,288      3,306,974 
---------------------------  -------------  -------------  -----------  ------------- 
 

The profit dealt with in the financial statements of the Parent Company was GBP1,418,859 (2016: GBP10,899).

Approved on behalf of the board on 11 August 2017 by:

 
 
 
   Matthew Jeffs   Michael Levy 
 Chief Executive   Group Finance Director 
 

Group Cash Flow Statement

For the year ended 30 June 2017

 
                                                        2017        2016 
                                                         GBP         GBP 
 
 Net cash generated from operating activities        974,800     567,420 
------------------------------------------------  ----------  ---------- 
 
   Investing activities 
 
 Interest received                                     7,942       9,956 
 
 Purchases of plant and equipment                    (8,152)    (21,056) 
 
 
   Net cash invested in investing activities           (210)    (11,100) 
------------------------------------------------  ----------  ---------- 
 
 Financing activities 
 
   Issue of shares                                    28,722       7,084 
------------------------------------------------  ----------  ---------- 
 
 Net cash generated from financing activities         28,722       7,084 
------------------------------------------------  ----------  ---------- 
 
   Net increase in cash and cash equivalents       1,003,312     563,404 
 
 Cash and cash equivalents at beginning of year    1,633,159   1,069,755 
------------------------------------------------  ----------  ---------- 
 
   Cash and cash equivalents at end of year        2,636,471   1,633,159 
------------------------------------------------  ----------  ---------- 
 

Company Cash Flow Statement

For the year ended 30 June 2017

 
                                             2017        2016 
                                              GBP         GBP 
 
   Net cash generated from operating 
   activities                             349,506     605,860 
-------------------------------------  ----------  ---------- 
 
   Investing activities 
 
 Interest received                          7,519       9,441 
-------------------------------------  ----------  ---------- 
 
 Net cash generated from investing 
  activities                                7,519       9,441 
-------------------------------------  ----------  ---------- 
 
 Financing activities 
 Issue of shares                           28,722       7,084 
-------------------------------------  ----------  ---------- 
 
   Net cash generated from financing 
   activities                              28,722       7,084 
-------------------------------------  ----------  ---------- 
 
   Net increase in cash and cash 
   equivalents                            385,747     622,385 
 
 Cash and cash equivalents at 
  beginning of year                     1,272,292     649,907 
-------------------------------------  ----------  ---------- 
 
   Cash and cash equivalents at 
   end of year                          1,658,039   1,272,292 
-------------------------------------  ----------  ---------- 
 

Notes to the Financial Statements For the year ended 30 June 2017

Status of financial information

Arcontech Group plc is a public limited company incorporated in England and Wales whose ordinary shares of GBP0.125 each are traded on the AIM Market of the London Stock Exchange. The Company's registered office is 1st Floor, 11-21 Paul Street, London, EC2A 4JU.

The Board of Directors approved this preliminary announcement on 11 August 2017. Whilst the financial information included in this preliminary announcement has been prepared in accordance with International Financial Reporting Standards ("IFRS") as endorsed by the European Union, this announcement does not itself contain sufficient information to comply with all the disclosure requirements of IFRS and does not constitute statutory accounts of the Company for the years ended 30 June 2017 or 30 June 2016.

The financial information set out in this announcement does not comprise the Group's statutory accounts for the years ended 30 June 2017 or 30 June 2016.

The financial information has been extracted from the statutory accounts of the Company for the years ended 30 June 2017 or 30 June 2016. The auditors reported on those accounts; their reports were unqualified and did not contain a reference to any matters to which the auditors drew attention by way of emphasis without qualifying their report and did not contain a statement under either Section 498 (2) or Section 498 (3) of the Companies Act 2006.

The statutory accounts for the year ended 30 June 2016 have been delivered to the Registrar of Companies, whereas those for the year ended 30 June 2017 will be delivered to the Registrar of Companies following the Company's Annual General Meeting.

Operating segments:

The Group reports internally to the Chief Operating Decision Maker (CODM), who is considered to be the Board. Intersegment license fees and management charges are not included in the reports reviewed by the CODM during the year but are calculated for statutory reporting purposes and therefore are excluded from the following revenue and operating profit disclosures.

 
                                                                            2017        2016 
                                                                             GBP         GBP 
 Revenue by segment 
 
 Software development and licence fees                                 2,307,751   2,141,630 
--------------------------------------------------------------------  ----------  ---------- 
 External segment revenue                                              2,307,751   2,141,630 
--------------------------------------------------------------------  ----------  ---------- 
 
 Operating profit by segment 
 
 Software development and licence fees                                   854,981     656,226 
 
 Unallocated overheads                                                 (489,660)   (363,853) 
--------------------------------------------------------------------  ----------  ---------- 
 Total operating profit                                                  365,321     292,373 
 
 Finance income                                                            7,942       9,956 
 Total profit before tax as reported in the Group income statement       373,263     302,329 
--------------------------------------------------------------------  ----------  ---------- 
 
 
                                                  2017          2016 
                                                   GBP           GBP 
 Segment total of assets 
 Software development and licence fees       3,547,110     4,419,890 
 
 Unallocated assets                          3,802,083     1,795,400 
----------------------------------------  ------------  ------------ 
                                             7,349,193     6,215,290 
 
 Less inter company debtors                (2,646,498)   (2,415,083) 
 Total assets                                4,702,695     3,800,207 
----------------------------------------  ------------  ------------ 
 
 
                                                  2017          2016 
                                                   GBP           GBP 
 Segment total liabilities 
 
 Software development and licence fees       3,890,649     3,792,521 
 
 Unallocated liabilities                       658,560       190,490 
----------------------------------------  ------------  ------------ 
                                             4,549,209     3,983,011 
 
 Less inter company creditors              (2,646,499)   (2,415,083) 
----------------------------------------  ------------  ------------ 
 Total liabilities                           1,902,710     1,567,928 
----------------------------------------  ------------  ------------ 
 
 
                                                                     2017     2016 
                                                                      GBP      GBP 
 Additions of property, plant and equipment assets by segment 
 
 Software development and licence fees                              8,152   21,056 
-----------------------------------------------------------------  ------  ------- 
 Total additions                                                    8,152   21,056 
-----------------------------------------------------------------  ------  ------- 
 
   Disposals of property, plant and equipment assets by segment 
 
 Software development and licence fees                              2,699   26,462 
-----------------------------------------------------------------  ------  ------- 
 Total disposals                                                    2,699   26,462 
-----------------------------------------------------------------  ------  ------- 
 
 
                                                                                                2017     2016 
                                                                                                 GBP      GBP 
 Depreciation of property, plant and equipment assets recognised in the period by segment 
 Software development and licence fees                                                        19,112   17,140 
 Total depreciation                                                                           19,112   17,140 
-------------------------------------------------------------------------------------------  -------  ------- 
 
 
 Non-current assets by country          2017        2016 
                                         GBP         GBP 
 UK                                1,890,728   1,901,688 
                                   1,890,728   1,901,688 
 -------------------------------  ----------  ---------- 
 
 
 Geographical information - External revenue          2017        2016 
                                                       GBP         GBP 
 UK                                              1,600,027   1,354,976 
 Europe (excluding UK)                             652,894     463,437 
 North America                                      27,830     127,459 
 Asia Pacific                                       27,000     195,758 
                                                 2,307,751   2,141,630 
 ---------------------------------------------  ----------  ---------- 
 

During the year there were 3 customers (2016: 1) who accounted for more than 10% of the Group's revenues as follows:

 
                        2017                    2016 
                Value of   % of Total   Value of   % of Total 
                   sales                   sales 
                     GBP                     GBP 
 
 Customer 1      612,998          27%    601,616          28% 
 Customer 2      357,327          15%          -            - 
 Customer 3      309,232          13%          -            - 
------------  ----------  -----------  ---------  ----------- 
               1,279,557          55%    601,616          28% 
------------  ----------  -----------  ---------  ----------- 
 

These revenues are attributable to the software development and licence fees segment.

Profit per share

 
                                                                                              2017          2016 
                                                                                                     as restated 
                                                                                               GBP           GBP 
 Earnings 
 Earnings for the purpose of basic and diluted earnings per share being net profit 
  attributable 
  to equity shareholders                                                                   470,251       408,142 
                                                                                           470,251       408,142 
 ---------------------------------------------------------------------------------------  --------  ------------ 
 
 
                                                                                                No.          No. 
 Number of shares 
 Weighted average number of ordinary shares for the purpose of basic earnings per 
  share                                                                                  12,396,220   12,297,590 
 
 Number of dilutive shares under option                                                     367,595      213,457 
--------------------------------------------------------------------------------------  -----------  ----------- 
 Weighted average number of ordinary shares for the purposes of dilutive earnings per 
  share                                                                                  12,763,815   12,511,047 
--------------------------------------------------------------------------------------  -----------  ----------- 
 

The number of shares for the year ended 30 June 2017 takes into account the share consolidation of 125:1 carried out in September 2016. The number of shares for the year ended 30 June 2016 has been restated accordingly.

The calculation of diluted earnings per share assumes conversion of all potentially dilutive ordinary shares, all of which arise from share options. A calculation is done to determine the number of shares that could have been acquired at fair value, based upon the monetary value of the subscription rights attached to outstanding share options.

Dividends

A final dividend of 1 pence will be proposed at the Annual General Meeting but has not been recognised as it requires approval (2016: GBPNil).

Annual General Meeting

The Annual General Meeting of Arcontech Group PLC will be held at the Company's offices, 1st Floor, 11-21 Paul Street, London EC2A 4JU on 26 September 2017 at 10.00 a.m.

Annual report and accounts

Copies of the annual report and accounts will be sent to shareholders shortly and will be available from the Company Secretary at the Company's registered office at 1st Floor, 11-21 Paul Street, London, EC2A 4JU or from the Company's website at www.arcontech.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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