Best of the Best PLC AGM Statement (0852Z)
September 16 2020 - 1:00AM
UK Regulatory
TIDMBOTB
RNS Number : 0852Z
Best of the Best PLC
16 September 2020
Best of the Best PLC
("BOTB" or the "Company")
AGM Statement
Best of the Best PLC, (LSE: BOTB) the online organiser of weekly
competitions to win cars and other lifestyle prizes, is pleased to
provide the following update on trading ahead of its Annual General
Meeting to be held at 12.00 noon today.
Trading update
Trading for the year to date has been stronger than expected at
the time of the Company's final results (as announced on 15 June
2020). The momentum that built through the previous financial year
has been maintained, resulting in a strong performance for the
first four months of the new financial year and is expected to
continue. This leads the Board now to expect both revenue and
profits for the full year ended 30 April 2021 to be ahead of
previous management expectations. As previously announced, the
Company launched a new additional 'Midweek' car competition in May,
alongside it's existing Dream Car and Lifestyle competitions. This,
in combination with sustained investment in marketing and customer
acquisition has delivered increased customer activity and a broader
customer base. The Company also continues to reap the benefits of
it's transformation to a wholly online operation.
Update on FSP
The Company, together with its advisers, has been in discussions
with a number of interested parties, from a number of sector
verticals, since the commencement of the formal sales process on 17
June 2020. Additional information and management access has been
provided to selected interested parties. These discussions have
resumed after the summer holiday period, which naturally saw a
slowdown in activity. The Board wishes to be clear that the
strategic review includes considering a potential sale of the
Company, but there can be no certainty that an offer will be
forthcoming or as to the terms of any such offer.
The Board looks forward to keeping shareholders updated in due
course.
Enquiries:
Best of the Best plc William Hindmarch, Chief T: +44 (0)20 7371 8866
Executive
Rupert Garton, Commercial
Director
Buchanan Chris Lane T: +44 (0)20 7466 5000
(Public Relations Toto Berger
& Press) Charlotte Slater
Oakvale Capital Daniel Burns T: +44 (0)20 7580 3838
(Financial Adviser) E: daniel@oakvalecapital.com
Kieran Davey E: kieran@oakvalecapital.com
finnCap Corporate Finance T: +44 (0)20 7220 0500
(Rule 3 Adviser, Nominated Carl Holmes
Adviser and Broker) Kate Bannatyne
Teddy Whiley
Alice Lane
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information for the purposes of Article 7 of Regulation
596/2014.
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END
AGMSFDFIIESSELU
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