20 April 2021
CEPS PLC
("CEPS" or the "Company")
Interims 2020 correction
The Board of CEPS announces that it has come to light during the audit of CEPS' full year results for the year ended 31 December 2020 that a material non-cash error of approximately £1.732 million, in relation to the exceptional profit on disposal, was made in the unaudited half-yearly report for the six months ended 30 June 2020 that was released on 25 September 2020 ("Interims"). The Interims showed an exceptional profit on the disposal of two loss-making subsidiaries, CEM Press Limited and Travelfast Limited (trading as Sampling International), of £2.555 million. The results for the full year are currently anticipated to show an exceptional profit on disposal of approximately £825,000.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).
The Directors of the Company accept responsibility for the content of this announcement.
Enquiries:
| CEPS PLC Vivien Langford, Group Finance Director |
+44 1225 483030
|
| Cairn Financial Advisers LLP James Caithie / Sandy Jamieson / Ludovico Lazzaretti |
+44 20 7213 0880 |
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
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