22nd Jan 2016 07:30
22 January 2016 |
Fusionex International plc
("Fusionex" or "the Company" or "the Group")
Statement in response to share price movement
Fusionex International plc notes the drop in its share price post yesterday's announcement of its preliminary results for the year ended 30 September 2015. The Company understands that the share price may have been affected by commentary regarding perceived poor cash collection in the period. Consequently the Directors wish to clarify the position.
Cash collection for the year was adversely affected by an increase in trade receivables as a result of the business moving increasingly to channel partners which enable Fusionex to support scalable growth and wider market reach. These channel partners however require extended terms of trade, which is not unusual in the software industry and has resulted in this increase in receivables. Since the year end, and in the ordinary course of business, RM23.4m (£3.8m) of the year-end receivables of RM28.5m (£4.6m) has been collected.
For further details:
Fusionex Ivan Teh, Chief Executive Officer Yuen Choong Lai, Chief Financial Officer Darren Hopkins, Director for Investor Relations & Corporate Development
| Through Buchanan
|
Panmure Gordon Fred Walsh, Alina Vaskina (Investment Banking) Erik Anderson, Tom Nicholson, Charles Leigh-Pemberton (Corporate Broking)
| 020 7886 2500 |
RBC Capital Markets Pierre Schreuder, Ema Jakasovic
| 020 7653 4000 |
Buchanan Sophie McNulty, Gabriella Clinkard, Stephanie Watson
| 020 7466 5000 |
Related Shares:
FXI.L