LoopUp Group PLC AGM Statement (8502Q)
24 June 2020 - 4:00PM
UK Regulatory
TIDMLOOP
RNS Number : 8502Q
LoopUp Group PLC
24 June 2020
LOOPUP GROUP PLC
("LoopUp Group" or the "Group")
AGM Statement
LoopUp Group plc (AIM: LOOP), the premium remote meetings
company, is pleased to provide the following statement ahead of its
Annual General Meeting (AGM) at 10am today, 24 June 2020.
In our trading update on 6 May 2020, we noted a material
increase in business volumes, driven by the large-scale migration
towards working from home associated with the Covid-19 outbreak,
and expressed our confidence in exceeding prevailing market
expectations in terms of revenue, EBITDA and cash generation for
the current financial year to 31 December 2020.
Since that update, the Group has continued to trade materially
above pre Covid-19 levels. Whilst it remains difficult to predict
near term developments in working practices and business climate,
we do now nevertheless expect to exceed revised market expectations
in terms of revenue, EBITDA and cash generation for the current
financial year.
The Group will provide a more quantitative update of the first
half's trading to 30 June 2020 during mid-July 2020. The Group will
also hold a special virtual shareholder event after that
announcement, further details of which will be announced by RNS in
due course.
The Group is proud to be helping its customers with their
business-critical communications in these challenging times, by
providing simple, reliable and secure products that are diligently
operated and supported. We would like to thank our team for their
incredible and ongoing efforts.
Market abuse regulation:
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
For further information, please contact:
LoopUp Group plc via FTI
Steve Flavell, co-CEO
+44 (0) 20 7886
Panmure Gordon (UK) Limited 2500
Dominic Morley / Alina Vaskina (Corporate
Finance)
Erik Anderson (Corporate Broking)
+44 (0) 20 7260
Numis Securities Limited 1000
Simon Willis / Jonny Abbott (Corporate Finance)
+44 (0) 20 3727
FTI Consulting, LLP 1000
Matt Dixon / Emma Hall / Jamille Smith / Shamma
Kelly
About LoopUp Group plc:
LoopUp (LSE AIM: LOOP) is a premium remote meetings solution.
The solution provides a reliable, secure and incredibly simple
experience that is optimised for external guests on
business-critical meetings, such as professional services firms'
communications with their clients. Over 5,000 organisations
worldwide trust LoopUp's award-wining SaaS solution with their
remote meetings, including more than 20 of both the world's top-100
law firms and top-100 private equity firms, as well as enterprises
such as Travelex, Kia Motors, Planet Hollywood and National
Geographic. The Group is headquartered in London, with offices in
San Francisco, New York, Boston, Chicago, Dallas, Los Angeles,
Denver, Cardiff, Milton Keynes, Madrid, Berlin, Malmo, Hong Kong,
Sydney and Barbados, and is listed on the AIM market of the London
Stock Exchange (LOOP). For further information, please visit:
www.loopup.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGMEAKKDAAAEEFA
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