Update to Results Announcement Date

RNS Number : 2868H

Aquis Exchange PLC

24 March 2020

 

24 March 2020

Aquis Exchange PLC

("Aquis", the "Company" or the "Group")

Update to Results Announcement Date

Aquis Exchange PLC (AIM: AQX), the exchange services group, announces that it intends to follow guidance from the FRC that all listed companies delay publishing corporate reports, including final audited financial statements, except where necessary to meet a legal or regulatory requirement.

Whilst the Board was in a position to announce the Company's audited final results on 25 March 2020, in line with the FRC's request it will instead update the market with a date for the release of its audited financial statements as soon as practicable.

In line with existing guidance as provided in the trading update on 19 December 2019, Aquis expects to report FY2019 revenues increased by approximately 70% from the prior year and EBITDA approaching breakeven. The Company had cash and cash equivalents at 31 December 2019 of £11.0m.

There is currently significant macro-economic uncertainty given the COVID-19 outbreak, however our technology systems are dealing effectively with the higher than usual market volumes caused by enhanced volatility in trading and the firm is efficiently operating remotely. Although the longer-term economic impact is hard to predict, we remain confident in our differentiated proposition.

Enquiries:

Aquis Exchange PLC	Tel: [phone]
Alasdair Haynes, CEO Jonathan Clelland, CFO and COO
Belinda Keheyan, Head of Marketing	Tel: [phone]
Liberum Capital Limited (Nominated Adviser and Broker)	Tel: [phone]
Clayton Bush Chris Clarke Edward Thomas Kane Collings
Alma PR (Financial PR Adviser)	Tel: [phone]
Rebecca Sanders-Hewett Caroline Forde Susie Hudson	[e-mail]

About Aquis Exchange

Aquis Exchange PLC is an exchange services group, which operates pan-European cash equities trading businesses (Aquis Exchange), growth and regulated primary markets (Aquis Stock Exchange/AQSE) and develops/licenses exchange software to third parties (Aquis Technologies).

Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority and France's Autorité des Marchés Financiers to operate Multilateral Trading Facility businesses in the UK and in EU27 respectively. Aquis operates a lit order book and does not allow aggressive non-client proprietary trading, which has resulted in lower toxicity and signalling risk on Aquis than other trading venues in Europe. According to independent studies, trades on Aquis are less likely to lead to price movement than on other lit markets. Aquis uses a subscription pricing model which works by charging users according to the message traffic they generate, rather than a percentage of the value of each stock that they trade.

Aquis Stock Exchange (AQSE) is a stock market providing primary and secondary markets for equity and debt products. It is permissioned as a Recognised Investment Exchange, which allows it to operate a regulated listings venue.

Aquis Technologies is the software and technology division of Aquis Exchange PLC. It creates and licenses cutting-edge, cost-effective matching engine and trade surveillance technology for banks, brokers, investment firms and exchanges.

Aquis Exchange PLC (AQX.L) is listed on the Alternative Investment Market of the LSE (AIM) market. For more information, please go to  www.aquis.eu   

 

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