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Update on Trading and Financial Position

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RNS Number : 6645U
Defenx plc
16 July 2018
 

16 July 2018

 

Defenx PLC
("Defenx", the "Company" or the "Group")

 

Update on Trading and Financial Position

 

The Company provides the following update with regards to its trading and financial position.

Further to the Company's announcement of 6 April 2018, the conversion of new corporate opportunities into firm orders is taking even longer than previously anticipated.  As a result of this delay, the Company believes that it only has sufficient working capital to continue trading through to September 2018.

Accordingly, the Company is in advanced discussions with BV Tech S.p.A, the Company's majority shareholder, to secure funding to assist the Company in meeting its working capital requirements. 

Further to the announcement of 29 June 2018, the Company continues to seek to finalise its audited annual report and accounts for the year ended 31 December 2017.

Further announcements will be made in due course.

 

Enquiries

Defenx PLC
Anthony Reeves - Executive Chairman
Clive Eplett - Interim Chief Financial Officer

020 3198 9414

IFC Advisory (Financial PR and IR)
Tim Metcalfe / Graham Herring / Heather Armstrong

020 3934 6630

Strand Hanson Limited (Nominated and Financial Adviser)
Angela Hallett / Richard Tulloch / Stuart Faulkner

020 7409 3494

WH Ireland (Broker)
Adrian Hadden / Alex Bond

020 7220 1666

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

 

investors.defenx.com


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Quick facts: Defenx PLC

Price: 3.3

Market: AIM
Market Cap: £929.21 k
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