TIDMTUNG

RNS Number : 5307X

Tungsten Corporation PLC

13 August 2018

TUNGSTEN CORPORATION PLC

("Tungsten" or the "Company")

For Immediate Release

13 August 2018

Mailing of Annual Report

Further to the release and website publication on 24 July 2018 of the Company's Annual Report and Accounts for the year ended 30 April 2018 ("Annual Report"), Tungsten announces that its Annual Report will be mailed to all shareholders on 15 August 2018.

The Annual Report is available on the Company's website, www.tungstencorporationplc.com. In the Annual Report a clarification has been added on page 21 as follows: Tungsten Network Finance generated fees of GBP342,000 in FY18 (FY17: GBP152,000), with a run rate of GBP1.6 million, based on actual performance in early FY19. However, as some recent revenue has been one-off in nature, additional customer sales will be required to sustain this level.

Enquiries:

 
 Tungsten Corporation plc 
  Richard Hurwitz, Chief Executive Officer 
  David Williams, Chief Financial Officer        +44 20 7280 7713 
 Panmure Gordon (Nominated Advisor) 
  Dominic Morley/Peter Steel                   +44 20 7886 2500 
 Canaccord Genuity Limited (Broker) 
  Simon Bridges/Andrew Buchanan/Emma 
  Gabriel                                      +44 20 7523 8000 
 Neustria Partners 
  Robert Bailhache/Nick Henderson/Charles 
  Gorman [email]                               +44 20 3021 2580

About Tungsten Corporation plc

Tungsten Corporation (LSE: TUNG) aims to be the world's most trusted business transaction network by using data intelligently to strengthen the global supply chain.

Tungsten Network is a secure business transaction network that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers suppliers access to invoice financing through Tungsten Network Finance, a form of alternative finance for businesses.

Tungsten Network processes invoices for 74 percent of the FTSE 100 and 71 percent of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 48 countries, and last year processed transactions worth over GBP164bn for organisations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Mondelēz International, Henkel, IBM, Kellogg's and the US Federal Government.

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August 13, 2018 02:00 ET (06:00 GMT)

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