LoopUp Group PLC 2022 audited accounts and debt extension (4664E)
30 June 2023 - 4:00PM
UK Regulatory
TIDMLOOP
RNS Number : 4664E
LoopUp Group PLC
30 June 2023
30 June 2023
LOOPUP GROUP PLC
("LoopUp" or the "Group")
2022 audited accounts and debt extension
LoopUp Group plc (AIM: LOOP), the cloud platform for premium
hybrid communications, announces that its annual report and audited
accounts for the year ended 31 December 2022 (the "2022 Accounts")
are now available on its website at www.loopup.com/investors. The
2022 Accounts will be dispatched to shareholders by mail today (to
those entitled to receive hard copies).
The Group notes that, subsequent to the announcement of the
unaudited preliminary results on 7 June 2023, an adjustment to the
Group's unaudited preliminary results has been made during the
audit finalisation process to raise an exceptional impairment
charge in relation to certain intangible assets arising on the 2018
acquisition of MeetingZone. This adjustment constitutes a reduction
of GBP13,560,000 against a previously announced figure for goodwill
and other intangibles, as at 31 December 2022, of GBP35,425,000.
Together with some other minor adjustments, there is an increase
against the previously announced Group operating loss for 2022 of
GBP11,589,000, with a resulting Group operating loss of
GBP25,102,000.
Additionally, the Group announces that, since the announcement
of the unaudited preliminary results, the Group has extended its
debt facilities with Bank of Ireland by twelve months, such that
the facilities will now mature on 30 September 2024. The financial
covenants to this facility have also been extended through to the
updated maturity date, on the same basis as prior to the extension.
There are no changes to key commercial terms in connection with the
facility.
Market abuse regulation:
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act
2018.
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 / Ivo Macdonald (Corporate
Finance)
+44 (0) 20 7397
Cenkos Securities Limited 8900
Giles Balleny / Dan Hodkinson (Corporate Finance)
Alex Pollen / Dale Bellis (Sales)
+44 (0) 20 3727
FTI Consulting, LLP 1000
Matt Dixon / Jamille Smith / Tom Blundell
About LoopUp Group plc
LoopUp (LSE AIM: LOOP) is a cloud platform for premium hybrid
communications. The Group's flagship Cloud Telephony solution for
Microsoft Teams enables multinational enterprises to consolidate
their global telephony provision into a single, consistently
managed cloud implementation rather than disparate implementations
from multiple carriers. The Group is listed on the AIM market of
the London Stock Exchange and is headquartered in London, with
offices in the US, Spain, Germany, Hong Kong, Barbados and
Australia. For further information, please visit:
www.loopup.com
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END
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