RPS Group Posts HY Loss - Quick Facts

RPS Group Plc (RPS.L) reported that its loss attributable to equity holders of the parent for the six months ended 30 June 2020 was 31.9 million pounds or 14.06 pence per share compared to profit of 9.8 million pounds or 4.35 pence per share in the prior year. The Group's performance was impacted by the COVID-19 pandemic.

Loss before tax was 34.1 million pounds compared to profit of 13.1 million pounds in the prior year.

Adjusted earnings per share was 2.03 pence compared to 6.38 pence in the prior year.

Fee Revenue was 232.4 million pounds compared to 266.0 million pounds in the previous year.

The company said its board is not proposing a 2020 interim dividend, due to the ongoing impact of COVID-19 on the Group's profit and restrictions within the short term 60 million pounds RCF liquidity facility.

RPS also separately announced a proposed Placing and Subscription of shares, which together will not exceed 19.99% of the Group's existing share capital, as well as proposed amendments to its banking facilities which are conditional on the equity raise.

RPS plans to conduct a non-pre-emptive placing of new ordinary shares of 3 pence each in the capital of the Company at a price of 44 pence per Placing Share.

In conjunction with the Placing, certain directors of the company intend to subscribe for new ordinary shares of 3 pence each in the capital of the company at the Placing Price to contribute 555 thousand pounds in aggregate.

In addition to its existing 100.0 million ponds committed revolving credit facility, on 27 April 2020 the Group announced an additional twelve month 60.0 million pounds revolving credit facility.

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