UTW Utilitywise

TIDMUTW

RNS Number : 3008O

Utilitywise plc

16 May 2018

16 May 2018

Utilitywise plc

("Utilitywise" or "the Company")

General Meeting

Utilitywise plc (AIM:UTW), a leading independent utility cost management consultancy, confirms that it held a General Meeting today.

The purpose of the meeting was to consider, pursuant to section 656 of the Companies Act 2006, whether any, and if so what, steps should be taken to address the fact that the net assets of the Company have fallen to half or less of its called-up share capital, by reference to the balance sheet of the Company as at 31 July 2017.

In light of the fact that the loss of capital is primarily due to a change in accounting policy in respect of revenue, as explained fully in the financial statements of the Company for the year ended 31 July 2017, rather than due to underlying trading reasons, the Board did not consider it necessary to propose any resolutions in relation to this matter at the General Meeting.

For further information please contact:

 
 Utilitywise plc                           0330 303 0233 
 Brendan Flattery (CEO) 
 Richard Laker (CFO) 
 
 
 finnCap (NOMAD and broker)                020 7220 0500 
 Matt Goode / James Thompson (Corporate 
  Finance) 
 Andrew Burdis (Corporate Broking) 
 
  Liberum (Joint broker)                     020 3100 2000 
 Robert Morton / Steve Pearce 
 Redleaf Communications                    020 3757 6865 
 Robin Tozer / Elisabeth Cowell            utilitywise@redleafpr.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

May 16, 2018 07:21 ET (11:21 GMT)

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