GATC Gattaca Plc

TIDMGATC

RNS Number : 0673C

Gattaca PLC

17 January 2018

17 January 2018

Gattaca plc

Statement re: share price movement

Gattaca plc ("Gattaca" or the "Group"), the specialist Engineering and Technology (IT & Telecoms) recruitment solutions business, notes the recent share price fall.

Gattaca has historically provided recruitment solutions to Carillion plc and its subsidiaries, primarily in the public sector arena. Whilst Gattaca has outstanding debts from the Carillion group, the vast majority of these are insured by a leading credit insurer and, at this time, we estimate our uninsured balance sheet exposure to be less than GBP100,000. The impact of Carillion's liquidation on our balance sheet will therefore be minimal.

Our annual Net Fee Income from the Carillion group of companies is in the order of GBP0.5m. Gattaca continues to support the delivery of important public services and management is actively engaging with the relevant Carillion counterparties to ascertain how we can continue to support the related underlying projects which would also maintain this income, whilst ensuring that we will be paid for such services.

Gattaca's Trading Update for the six months ended 31(st) January will be released 8th February 2018.

For further information please contact:

 
 Gattaca plc                        +44 (0) 1489 898989 
 Brian Wilkinson, Chief 
  Executive Officer 
  Salar Farzad, Chief Financial 
  Officer 
 Citigate Dewe Rogerson            +44 (0) 20 7638 9571 
 Louise Mason-Rutherford 
  / Nick Hayns 
 Numis Securities Limited          +44 (0) 20 7260 1000 
 Michael Meade / Tom Ballard 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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