Checkit PLC Statement re. Silicon Valley Bank (7343S)

TIDMCKT

RNS Number : 7343S

Checkit PLC

13 March 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF UK MARKET ABUSE REGULATION . UPON THE PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS CONSIDERED TO BE WITHIN THE PUBLIC DOMAIN.

13 March 2023

Checkit plc

("Checkit" or the "Group")

Silicon Valley Bank

Checkit plc (AIM: CKT) confirms that following the news regarding Silicon Valley Bank (SVB), its exposure to SVB was less than GBP0.1m. The Group continues to benefit from a strong balance sheet, with net cash of GBP15.6m as at 31 January 2023, as reported in the recent trading update.

Contacts:

   Checkit plc                                 [phone] 

www.checkit.net

Kit Kyte (Chief Executive Officer)

Greg Price (Chief Financial Officer)

Singer Capital Markets (Nominated Adviser & Broker) [phone]

Shaun Dobson / Harry Gooden / George Tzimas

Forward looking statements

This announcement contains forward looking statements with respect to the business, strategy and plans of Checkit plc and its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about Checkit or management's beliefs and expectations, are forward looking statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Checkit's actual future results may differ materially from the results expressed or implied in these forward-looking statements as a result of a variety of factors among other things, the economic and business circumstances occurring from time to time in the countries, sectors and business segments in which the Group operates. The forward-looking statements contained in this announcement are made as of the date hereof, and Checkit undertakes no obligation to update any of its forward-looking statements.

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March 13, 2023 04:55 ET (08:55 GMT)