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Regulatory Story
Company Boxhill Technologies PLC
TIDM SJH
Headline Trading Statement
Released 07:00 04-Mar-2019
Number 6728R07

RNS Number : 6728R
Boxhill Technologies PLC
04 March 2019
 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

4 March 2019

BOXHILL TECHNOLOGIES PLC

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

 

Trading & Corporate Update

 

 

The Board of Directors of the Company (the "Board") is pleased to provide the following trading statement and update on recent developments (the "Update").

 

Trading Update

 

Prize Provision Services Ltd. ("PPS"), which operates as an External Lottery Manager licensed by the Gambling Commission, continues to make progress with the first scratch cards being rolled out with Bolton based charity Families and Babies ordering 5,000 cards.

 

The Lincoln City Academy Sports Club lottery has held it first draw after transferring its lottery to be administered by PPS in order to raise money for the club's academy, by buying equipment and supporting its community coaching program.

 

The large membership organisation continues its launch activities with a series of YouTube videos including a new how to play video. The organisation will be recruiting players through a series of email campaigns to its members along with live awareness events at regional and national conferences, with an initial target of 5,000 new players.

 

Market Access Ltd., the Group's payment and foreign exchange ("FX") business ("Market Access"), has made encouraging progress since the end of the financial year, with clients who had seemingly held back from initiating transactions prior to the publication of the Company's audited accounts on 30 January 2019, now taking full advantage of our services.

 

Month on month volume has increased significantly during February and early indications are positive, however it is too early to tell whether this will be sustained. Previously announced activities are all progressing to plan.  The Board will seek to provide a further update once the trend becomes clearer.

 

Graeme Paton, CEO, commented, "The Board is very encouraged by progress across the business and the benefit of the trading in the Company's shares returning from suspension is clear.  We will continue to keep a close eye on costs, especially as the audit and related costs following the difficulties of 2H2018 were material. We will provide further updates as they become necessary but we are delighted by the increase in activity over the last few weeks."

 

For further information, contact:

 

Boxhill Technologies PLC

Lord Razzall, Executive Chairman

Website www.boxhillplc.com

 

020 7493 9644

Allenby Capital Limited

(Nomad, Financial Adviser & Broker)

John Depasquale / Nick Harriss

020 3328 5656

 


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