Beeks Financial Cloud Group PLC Launch of Proximity Cloud and Trading Update (0673I)

TIDMBKS

RNS Number : 0673I

Beeks Financial Cloud Group PLC

10 August 2021

Beeks Financial Cloud Group plc

("Beeks" or the "Company")

Launch of Proximity Cloud

Trading Update

10 August 2021 -- Beeks Financial Cloud Group Plc (AIM: BKS) , a cloud computing and connectivity provider for financial markets, is pleased to announce the launch of Proximity Cloud, the industry's first private cloud environment for financial markets and to provide an update on trading for the year ended 30 June 2021.

Launch of Proximity Cloud

Developed over the prior year and with the support of the proceeds from the fundraise in April 2021, Proximity Cloud has launched today with multiple client Proof of Concepts commencing.

Proximity Cloud is a high-performance, dedicated and client-owned trading environment, fully optimised for low latency trading conditions and built with security and compliance at the forefront.

Being hosted and managed on a client site, as opposed to within a Beeks facility, this new offering addresses a significant part of the market that was previously unavailable to the Company.

Trading Update

The Group has experienced good levels of trading in the second half of the year, notwithstanding the ongoing impact of Covid-19, and expects to announce results in line with market expectations, delivering growth in both revenue and Underlying EBITDA on the prior year. The Group has continued to successfully expand its relationships with existing Tier 1 customers in the second half and has a growing pipeline of opportunities.

With an expanded, differentiated offering, growing sales network and increased sales pipeline, the Board remains confident in the Group's ability to capitalise on the growing demand for cloud computing and connectivity from financial services organisations and the ongoing success of Beeks.

The Company looks forward to providing a further update at the time of the Final Results, to be released in mid-September.

For further information please contact:

 
 Beeks Financial Cloud Group plc 
 Gordon McArthur, CEO                                  via Alma PR 
 Fraser McDonald, CFO 
                                                       [phone] 
 Canaccord Genuity                                      8000 
 Adam James 
                                                       [phone] 
 Alma PR                                                0212 
 Caroline Forde / H ilary Buchanan / Joe Pederzolli 
 

ABOUT BEEKS FINANCIAL CLOUD

Beeks Financial Cloud is a leading cloud computing, connectivity and analytics provider for financial services. Our cloud-based Infrastructure-as-a-Service (IaaS) model allows financial organisations the flexibility and agility to deploy and connect to a variety of exchanges, trading venues and cloud service providers at a fraction of the cost of building their own networks and infrastructure. Based in the UK with an international network of 19 datacentres, Beeks supports its global customers at scale in the leading financial centres.

For more information, visit: www.beeksfinancialcloud.com

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August 10, 2021 02:00 ET (06:00 GMT)