Directa Plus PLC Customer announcement (7616M)
18 October 2016 - 5:00PM
UK Regulatory
TIDMDCTA
RNS Number : 7616M
Directa Plus PLC
18 October 2016
18 October 2016
Directa Plus plc
("Directa Plus" or the "Company")
Notification of potential customer impairment
Directa Plus (AIM: DCTA), a producer and supplier of
graphene-based products for use in consumer and industrial markets,
has been made aware that a regional governmental grant awarded to a
customer who acquired three decontamination units in 2015 for
EUR1.0 million has been rescinded. The customer has notified the
Company that it is now unable to satisfy the outstanding payments
due. Accordingly, the Company and customer are in discussions to
resolve the matter.
It is important to note that any potential impairment to the
accounts would be a non-cash item and has no ongoing impact on
Directa Plus' core business of sale of graphene materials.
Further announcements will be made as and when appropriate.
Giulio Cesareo, Chief Executive Officer of Directa Plus, said:
"This news is clearly disappointing and we are exploring a range of
scenarios with the customer to address this position. We will
update the market as soon as we have better visibility on the
situation and likely outcome of current discussions. However, we
continue to view the environmental sector and our Grafysorber(R)
product solution as a strong growth opportunity for the
Company."
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations
Enquiries
Directa Plus plc
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Giulio Cesareo, CEO
Marco Ferrari, CFO +39 02 36714458
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Cantor Fitzgerald Europe (Nominated
Adviser and Broker)
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Marc Milmo, David Foreman, Michael
Reynolds (Corporate Finance) +44 20 7894
Mark Westcott, David Banks (Sales) 7000
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Luther Pendragon (Financial PR)
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Harry Chathli, Claire Norbury, Alexis +44 20 7618
Gore 9100
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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