Dividend Reinstated and Contract Win

RNS Number : 0651W

Croma Security Solutions Group PLC

13 August 2020

 

13 August 2020

CROMA SECURITY SOLUTIONS GROUP PLC

("CSSG" or the "Group")

Reinstatement of Dividend and Contract Win

Croma Security Solutions Group Plc, the total security services provider, is pleased to announce the reinstatement of the Company's interim dividend. On 19 March 2020, as a precaution against the potential impact of Covid-19, the Company cancelled the interim dividend announced alongside the Interim Results. Having now completed the financial year to 30 June 2020, it is clear the impact of Covid-19 on Group has been light.

As a consequence, the Company intends to pay an interim dividend of 0.75p per share on 4 September 2020 to shareholders with an ex-dividend date of 20 August 2020 and an associated record date of 21 August 2020.

The Company is also pleased to confirm that post-year end, Croma Vigilant has won a guarding contract from Savills to manage the security for the Edinburgh St James centre. A £1 billion redevelopment, the centre is a major scheme in the heart of Edinburgh and is due to open in Spring 2021. The guarding contract is for 3 years, worth £1.3 million annually and commences from 2 April 2021.

The centre includes retail, commercial and residential buildings and under the new contract, Croma Vigilant will provide a range of its premium guarding services including PROception. Led by ex-policewoman Ruth McGowan, PROception was launched in 2019 and brings the amalgamation of 3 key disciplines: reception, concierge and security, to create the modern front of house professional.

Chairman, Sebastian Morley, said, "At the outbreak of the Covid-19 pandemic in March we took the decision to cancel the dividend until we gained greater visibility on the impact it might have. Pleasingly, the impact has been slight, due in part to the organisation and flexibility of our teams which maintained all services at full strength. Having now completed the financial year, we expect we will deliver a good financial performance and with no borrowings and record levels of cash we are comfortable in re-instating the interim dividend.

The Edinburgh St James centre security contract was a highly competitive tender and as a team we are delighted to have been chosen and believe our premium security services coupled with the range of additional capabilities we are able to provide were instrumental in securing this prestigious contract."

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For further information contact:

Croma Security Solutions Group plc Sebastian Morley, Chairman	Tel: [phone]
WH Ireland Limited (NOMAD and Broker) Mike Coe / Chris Savidge	Tel: [phone]
Novella Communications Tim Robertson / Fergus Young	Tel: [phone]

 

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