Directa Plus PLC Customer Announcement (7658Q)
02 December 2016 - 6:01PM
UK Regulatory
TIDMDCTA
RNS Number : 7658Q
Directa Plus PLC
02 December 2016
2 December 2016
Directa Plus plc
("Directa Plus" or the "Company")
Update on potential customer impairment
Further to the statement on 18 October 2016, Directa Plus (AIM:
DCTA), a producer and supplier of graphene-based products for use
in consumer and industrial markets, announces that it has formally
resolved matters with the customer whose regional governmental
grant was rescinded and was therefore unable to complete the
outstanding payments due to the Company.
Following the negotiations, below are the key terms of the
agreement between the two parties:
-- The customer intends to keep one Mobile Decontamination Unit
("MDU") as they still recognise the market opportunity for the
Company's Grafysorber(R) product.
-- Directa Plus will receive a further payment of EUR80,000 for
the MDU being kept by the customer. The Company will take
possession of the two remaining MDUs, which will then be available
to be re-sold.
The net negative impairment impact on the profit and loss
account for the current financial year will be approximately
EUR700,000. This impairment to the accounts will be treated as a
non-cash item and has no ongoing impact on Directa Plus' core
business of the sale of graphene materials.
Giulio Cesareo, Chief Executive Officer of Directa Plus, said:
"We are pleased to have resolved this matter. The customer remains
positive about the opportunities for our Grafysorber(R) product and
the return of two MDUs means the Company is in a position to
immediately satisfy potential interest in the MDUs from other
parties. There continues to be strong interest in this product from
the Middle East, Europe and US, and we continue to view the
environmental sector and our 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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