Business
Customer Contract Termination
Customer Contract Termination.
About this update from Cloudcoco Group Plc
[{"type":"text","content":"\n \nRNS Number : 3570V adept4 plc 08 April 2019 \n\nAdept4 plc \n(\"Adept4\", the \"Company\" or the \"Group\")\n \nCustomer Contract Termination\n \nAdept4 plc, the AIM listed provider of 'IT as a Service', announces that it has received notice of termination of a customer contract which in the year to 30 September 2018, delivered £0.7 million of recurring revenue. As a result, revenue and Trading Group EBITDA* for the year ending 30 September 2019, are likely to be below management's expectations. Based on current information, the Company disputes that the contract termination is valid and is therefore considering the legal redress open to it. \n\nFor further information please contact:\n\n\n\nAdept4 plc\nSimon Duckworth, Non-Executive Chairman\n\n\n01925 398 255\n\n\n\n\n\nN+1 Singer (Nominated Adviser and Broker)\nJen Boorer \n\n\n \n020 7496 3000\n\n\n\n\n\nMXC Capital Markets LLP\nCharlotte Stranner \n\n\n \n020 7965 8149\n\n\n\n \nThis announcement contains inside information.\n* earnings before net finance costs, tax, depreciation, amortisation, plc costs, separately identifiable items and share-based payments\n\nAbout Adept4\nAdept4 delivers IT as a service to small and medium sized businesses across the UK. IT as a Service (ITaaS) provides you with exactly the amount of technology and support you need in accordance with business requirements, billed on a monthly basis, based on what is consumed.\nCritically we underpin this delivery method with a 24 x 7 UK response team, strategic consulting, professional services and software development to provide exactly what organisations need from IT at any given time. Whether an infrastructure is based on legacy or emerging technologies we will ensure organisations have the flexibility, agility and cost efficiencies required to run their business effectively, all through a single trusted provider.\nAdept4 is a public company quoted on the AIM market of the London Stock Exchange. The Company is headquartered in Warrington, with offices in Leeds, Aberdeen, and Brighton.\n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provi...