iEnergizer Limited COVID-19 Trading Statement (3642M)

TIDMIBPO

RNS Number : 3642M

iEnergizer Limited

11 May 2020

11 May 2020

iEnergizer Limited

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

COVID-19 Trading Statement

iEnergizer, the technology services and media solutions leader for the digital age, provides the following operational update.

The Group has continued to operate as effectively since the Government of India imposed a nationwide lockdown on 25 March 2020 to reduce the spread of COVID-19 in India.

The Group has taken important steps to ensure that it is well positioned to fully support the requirements of its clients and staff. After a transition for the first two weeks of the lockdown period, iEnergizer is pleased to report the business is operating at 80% to 90% efficiency on all services to its clients and there has been no other disruption, with the majority of the Group's employees now successfully transitioned to remote working.

Whilst it is difficult to predict how long India will remain in some form of lockdown and the long-term economic repercussions of COVID-19, the Group's balance sheet, net cash position along with our long-term customer relationships remain strong. iEnergizer remains in discussions with these clients to ensure the Group meets their needs and requirements throughout this unprecedented period.

The situation is improving whilst the lockdown measures ease with some employees returning to the Group's offices. This provides the Directors with confidence that the Group's operational efficiency will increase to normal levels as the Government of India continue to reduce the lock down measures.

Further announcements will be made in due course as and when appropriate.

-Ends-

 
Enquiries: 
 
iEnergizer Ltd.                                      [phone] 
Chris de Putron / Mark De La Rue 
 
Arden Partners - Nominated adviser and Broker       [phone] 
Ciaran Walsh / Dan Gee-Summons 
FTI Consulting - Communications Adviser             [phone] 
Edward Westropp / Jonathon Brill / Eleanor Purdon 
 

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May 11, 2020 02:00 ET (06:00 GMT)