Kinovo PLC DCB (Kent) Ltd update

RNS Number : 7265G

Kinovo PLC

03 October 2024

 

3 October 2024

 

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

DCB (Kent) Ltd update

 

Kinovo Plc (AIM: KINO), the specialist property services Group that delivers compliance and sustainability solutions, provides the following update regarding DCB (Kent) Ltd ("DCB"), the Group's former construction division.

Works at the penultimate project concluded in September 2024. The Group has agreed to complete additional further works at this property, which are now underway and will be paid for separately by the client. This does not affect the final cost to complete and the Company will confirm in due course once practical completion has been achieved.

As previously announced, the performance bond of £0.9m relating to the final project was deferred after agreeing to the resolution of the final of the nine DBC projects. The Company is pleased that, having met their contractual obligations with the required number of payments having been made, the performance bond has now been released.

 

Enquiries

 

Kinovo plc
Sangita Shah, Chairman David Bullen, Chief Executive Officer	[phone] (via Hudson Sandler)
Canaccord Genuity Limited (Nominated Adviser and Sole Broker)	[phone]
Adam James Andrew Potts Harry Rees
Hudson Sandler (Financial PR)	[phone]
Dan de Belder Harry Griffiths Will Reynish

 

 

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