600 Group PLC AGM Update on Trading (2217R)
September 20 2017 - 1:00AM
UK Regulatory
TIDMSIXH
RNS Number : 2217R
600 Group PLC
20 September 2017
600 Group Plc
(the "Company")
AGM update on trading
Ahead of the AGM today the 600 Group Plc, the AIM listed
distributor, designer and manufacturer of machine tools and
industrial laser systems is pleased to announce a trading
update:
Trading in the current financial year continues to be in line
with the Boards expectations. Order and quote activity remain good
and current order books in machine tools are up 60% and industrial
lasers 36% on the same time last year. Whilst our markets always
remain subject to world economic and political influences these
levels of order books gives us confidence in our trading going into
the second half of the financial year.
Additionally we are pleased to report that the Group pension
scheme continues to perform strongly and remains over 100% funded
on a Technical Provisions valuation basis and various options for
the scheme are being considered.
The Company is in the process of undertaking a direct
subscription for approximately 8,615,384 new ordinary shares of 1p
at a subscription price of 13 pence per ordinary share. The direct
subscription will raise approximately GBP1.12 million before
expenses. The Company expects to make a further announcement later
today of the completion of this direct subscription.
More information on the group can be viewed at:
www.600group.com
Enquiries:
------------------------------ ---------------------------
The 600 Group PLC Tel: 01924 415000
------------------------------ ---------------------------
Paul Dupee, Executive
Chairman
------------------------------ ---------------------------
Neil Carrick, Finance
Director
------------------------------ ---------------------------
Spark Advisory Partners Tel: 020 3368 3553
Limited (NOMAD)
------------------------------ ---------------------------
Matt Davis/ Miriam Greenwood
------------------------------ ---------------------------
Cadogan PR Limited (Financial Tel: 020 7499 5002 / 07771
PR) 713608
------------------------------ ---------------------------
Alex Walters
------------------------------ ---------------------------
FinnCap (Broker) Tel: 020 7600 1658
------------------------------ ---------------------------
Tony Quirke/Mia Gardiner
(Sales/Broking)
------------------------------ ---------------------------
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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