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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Outsourcery | LSE:OUT | London | Ordinary Share | GB00B9G9LV10 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.125 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2020 to Jan 2025
TIDMOUT
RNS Number : 2088A
Outsourcery PLC
03 June 2016
3 June 2016
OUTSOURCERY PLC
Update and Suspension of Trading
Outsourcery plc (AIM: OUT, 'Outsourcery' or 'the Company'), the leading Cloud Service Provider and provider of cloud-based unified communications solutions, today provides an update on its working capital facility with its principal secured lender, Vodafone.
Pursuant to the conditions of the working capital facility, Outsourcery has progressed with the previously announced restructuring, including discussions about the disposal of business assets in the immediate term.
Outsourcery has received a number of initial offers for its assets, though the potential proceeds from the current proposals would potentially leave no or limited value to equity shareholders. The Board continues to carefully evaluate approaches for assets as well as a number of further options to strengthen the immediate and long-term financial position of the Company.
While discussions with third parties are ongoing, they have had no material adverse impact on current business activity, with Outsourcery securing new direct customer contracts and continuing with further product development.
While the process continues, the Board has concluded that it is no longer possible to present audited financial results for the year ended 31 December 2015 by 30 June 2016.
As such the Company has requested a temporary suspension of the under-mentioned securities from trading on AIM with immediate effect, pending publication of its audited financial results and the appropriate notification being made in accordance with the AIM Rules.
ORDINARY SHARES OF 1 PENCE EACH, FULLY PAID (SEDOL: B9G9LV1) (ISIN: GB00B9G9LV10)
The Board has resolved to change the Company's accounting reference date to 31 March and extend the latest accounting period to the 15 months ended 31 March 2016. Further announcements will be made by the Company as appropriate.
ENDS
For further information please contact:
Outsourcery plc Piers Linney, Co-CEO Simon Newton, Co-CEO +44 (0)330 313 0077 Investec Andrew Pinder / Patrick Robb +44 (0)20 7597 5100 FTI Consulting Dwight Burden / Rob Mindell +44 (0)20 3727 1000
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGMGGVFFRGVZM
(END) Dow Jones Newswires
June 03, 2016 09:10 ET (13:10 GMT)
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