Business
Statement re Pre-close Announcement
Statement re Pre-close Announcement.
About this update from Cpp Group Plc
[{"type":"text","content":"\n \nRNS Number : 1635L CPPGroup Plc 02 July 2014 \n \n\nCPPGROUP PLC\n02 July 2014\nPre Close Announcement\n \nCPPGroup Plc (CPP or the Group) is an international assistance business operating in the UK and overseas within the financial services, telecommunications and travel sectors.\nCPP today publishes the following pre-close statement ahead of its interim results for the six months ended 30 June 2014.\nAs expected, trading performance reflects the on-going challenges of the Group's environment. Scheme of Arrangement (Scheme) claims continue to track within expectations and the total cost provided to date remains unchanged from the year-end. \nAs previously announced, the Group has a clear short term plan and objectives. The immediate focus is to complete the Scheme, manage costs tightly and return the Group to a position of stability. A number of positive changes have taken place as part of the Group's on-going review of its existing activities, including the continued focus on the required improvements to the operating environment and IT infrastructure, which will contribute to providing a sustainable business proposition for the long term.\nIn conjunction with the Group's key stakeholders, the Board continues to develop plans to restructure the Group's balance sheet and provide the foundations that will support the longer term direction of the business. This includes exploring the possible requirement for future funding and considering the appropriate UK listing for the Group that provides the most suitable and efficient platform to execute the Board's future plans. \nAs previously outlined, material uncertainties remain, particularly in relation to the Scheme, liquidity and the execution and delivery of the Group's longer-term plans.\nCPP will announce its interim results for the six months ended 30 June 2014 in August 2014.\n \nEnquiries\nInvestor Relations\nCPPGroup Plc \nBrent Escott, Chief Executive Officer\nCraig Parsons, Chief Financial Officer\nTel: +44 (0)1904 544702\n \nHelen Spivey, Head of Corporate and Investor Communications\nTel: +44 (0)1904 544387\n \nMedia\nTulchan Communications: Martin Robinson; David Allchurch\nTel: +44 (0)20 7353 4200\n\n\n \nCautionary statement \nThis trading statement contains certain forward-looking statements. These sta...