AdEPT Telecom plc AGM Statement,Interim Dividend & Notice of Results (0507C)
September 27 2018 - 1:00AM
UK Regulatory
TIDMADT
RNS Number : 0507C
AdEPT Telecom plc
27 September 2018
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REGULATION (EU) NO. 596/2014 ("MAR"). ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
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AdEPT Telecom PLC
("AdEPT" or the "Company")
AGM Statement
15.3% increase to Interim Dividend
Notice of Results
AdEPT Telecom plc, one of the UK's leading independent providers
of managed services for IT, unified communications, connectivity
and voice solutions, is holding its 2018 annual general meeting at
10.15am today at 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.
At the meeting, the Chairman, Roger Wilson, will make the following
statement:-
"I am pleased to report that, in the 6 months to the 30
September 2018, AdEPT made considerable progress in its strategy of
further expanding its managed service and IT capability, with
continuing geographical focus on London and the South East. This
progress has been made through a combination of organic sales from
IT and managed services and the contribution from our acquisition
of Shift F7 Group Limited ("Shift F7"), a commercial IT business.
Providing a full suite of managed services, AdEPT is in an
excellent position to take advantage of the continuing convergence
between IT and telecoms.
Included in the AGM resolutions there is a proposal to change
the name of the Company to AdEPT Technology Group plc. With more
than 75% of revenues being generated from managed services and IT,
the board believes that this new name better reflects the products
and services being provided by the Company. Should the resolution
be passed, the Company is expecting the change of name to take
effect from Monday, 1 October 2018.
Although our interim results for the 6 months ended 30 September
2018 are not expected to be published until 13 November 2018, the
Board is confident that they will support its progressive dividend
growth policy. Therefore, the Directors are declaring an interim
dividend of 4.90p per Ordinary Share in respect of the 6 months
ended 30 September 2018, an increase of 15.3% over the interim
dividend of 4.25p for the comparative period.
This dividend will absorb approximately GBP1.1 million of
shareholders' funds (September 2017: GBP1.0 million). It is
proposed by the Directors that this dividend will be paid on 8
April 2019 to shareholders who are on the register of members on
the record date of 15 March 2019.
The Company's most recent acquisition in the IT space, Shift F7,
was announced in August 2018. Shift F7 is a highly accredited IT
services provider with over 20 years' experience, offering highly
specialised IT support services and technology solutions to more
than 200 commercial mid-market customers. Shift F7 is a
vendor-independent managed service provider which offers its
clients outsourced managed IT and telecoms solutions, including IT
support, hosted IT, cyber-security, data connectivity and next
generation IP telephony services. The products and services of
Shift F7 are highly complementary to those of the existing IT
service divisions within AdEPT. In addition, the teams at Shift F7
and AdEPT have been working together for more than 10 years in
relation to the supply of telecom and data connectivity
services.
The integration of Shift F7 into the Group has only just begun
and as this acquisition was made part-way through the current
financial year, it will only have two-month contribution to the
interim financial results. We look forward to providing further
information on the results for the period and the early progress of
Shift F7 at the time of our interim results when these are
announced on 13 November 2018."
For more information please contact:
AdEPT Telecom Plc
Roger Wilson, Chairman 07786 111 535
Ian Fishwick, Chief Executive 01892 550 225
John Swaite, Finance Director 01892 550 243
Cantor Fitzgerald Europe
Nominated Adviser & Broker
Marc Milmo/Catherine Leftley 020 7894 7000
About AdEPT Telecom plc:
AdEPT Telecom plc is one of the UK's leading independent
providers of managed services for IT, unified communications,
connectivity and voice solutions. The Company provides a complete
communications portfolio of IT services, unified communications, IP
telephony equipment installation, managed services, Wi-Fi, IT and
communications hardware and data connectivity products. AdEPT's
tailored services are used by thousands of customers across the UK
and are brought together through the strategic relationships with
tier-1 suppliers such as Openreach, BT Wholesale, Virgin Media,
Avaya, Microsoft, Dell and Apple.
AdEPT is listed on the London Stock Exchange (Ticker: ADT). For
further information please visit: www.adept.co.uk
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END
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