CEPS PLC Interims 2020 correction (0618W)

TIDMCEPS

RNS Number : 0618W

CEPS PLC

20 April 2021

20 April 2021

CEPS PLC

("CEPS" or the "Company")

Interims 2020 correction

The Board of CEPS announces that it has come to light during the audit of CEPS' full year results for the year ended 31 December 2020 that a material non-cash error of approximately GBP1.732 million, in relation to the exceptional profit on disposal, was made in the unaudited half-yearly report for the six months ended 30 June 2020 that was released on 25 September 2020 ("Interims"). The Interims showed an exceptional profit on the disposal of two loss-making subsidiaries, CEM Press Limited and Travelfast Limited (trading as Sampling International), of GBP2.555 million. The results for the full year are currently anticipated to show an exceptional profit on disposal of approximately GBP825,000.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

The Directors of the Company accept responsibility for the content of this announcement.

Enquiries:

 
 CEPS PLC 
  Vivien Langford, Group Finance 
  Director                            [phone] 
 Cairn Financial Advisers LLP 
  James Caithie / Sandy Jamieson 
  / 
  Ludovico Lazzaretti                 [phone] 
 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi ed by their use of terms and phrases such as "believe", "could", "should" "envisage", "estimate", "intend", "may", "plan", "potentially", "expect", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors .

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(END) Dow Jones Newswires

April 20, 2021 08:10 ET (12:10 GMT)