Search
Regulatory Story
Company Modern Water PLC
TIDM MWG
Headline Trading Update
Released 10:55 07-Jun-2019
Number 5363B10

RNS Number : 5363B
Modern Water PLC
07 June 2019
 

Modern Water plc

 

("Modern Water" or "the Company")

 

 

Trading and working capital update

 

For immediate release

7 June 2019

 

 

 

Modern Water plc, the owner of world-leading technologies for water and wastewater treatment and for water quality monitoring, announces a trading and working capital update.

 

Despite positive indicators as disclosed in the recent Annual Report, cash flows have been slower than anticipated from the Membranes Division and, consequently, additional working capital will be required in the short-term to meet the Group's requirements. The Monitoring Division continues to trade in line with expectations and the Company is awaiting developments on the Gibraltar waste water contract.

 

The Board is engaged with a number of potential funding parties with a view to providing the working capital needed, which may or may not include a new equity issue. Although no guarantees can be given that these talks will come to fruition, the Board believes these options to be viable and a further update will be made as appropriate.

 

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

 

 

For further information:

 

Modern Water plc

+44 (0) 1483 696 000

Simon Humphrey, Chief Executive

 

 

 

 

Cairn Financial Advisers LLP  (Nominated Adviser)  

 

+44 (0) 207 213 0880

Sandy Jamieson / Tony Rawlinson

Ludovico Lazzaretti

 

 

Turner Pope Investments (Broker)

Andy Thacker

+44 (0) 20 3621 4120

 

 

 

Notes to editors:

 

Modern Water is a pioneering and innovative technology company, specialising in membrane water treatment solutions and advanced monitoring products. The Company works for customers in a range of industries across the globe and owns proprietary technologies for use in a diverse range of applications. Modern Water's Monitoring Division has a portfolio of world-leading toxicity and trace metal monitoring products, some of which constitute the regulatory standard. The headline technology of the Company's Membrane Division, called "AMBC", can be used to tackle complex wastewater treatment problems at a reduced cost compared to standard processes, while being simple to operate.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
TSTUBVKRKUANRRR
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.