Gattaca plc ('Gattaca' or the 'Group'), the specialist Engineering and Technology (IT & Telecoms) recruitment solutions business, notes the recent share price fall.
Gattaca has historically provided recruitment solutions to Carillion plc and its subsidiaries, primarily in the public sector arena. Whilst Gattaca has outstanding debts from the Carillion group, the vast majority of these are insured by a leading credit insurer and, at this time, we estimate our uninsured balance sheet exposure to be less than £100,000. The impact of Carillion's liquidation on our balance sheet will therefore be minimal.
Our annual Net Fee Income from the Carillion group of companies is in the order of £0.5m. Gattaca continues to support the delivery of important public services and management is actively engaging with the relevant Carillion counterparties to ascertain how we can continue to support the related underlying projects which would also maintain this income, whilst ensuring that we will be paid for such services.
Gattaca's Trading Update for the six months ended 31st January will be released 8th February 2018.
For further information please contact:
Gattaca plc
+44 (0) 1489 898989
Brian Wilkinson, Chief Executive Officer
Salar Farzad, Chief Financial Officer
Citigate Dewe Rogerson
+44 (0) 20 7638 9571
Louise Mason-Rutherford / Nick Hayns
Numis Securities Limited
+44 (0) 20 7260 1000
Michael Meade / Tom Ballard
Gattaca plc published this content on 17 January 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 January 2018 08:19:03 UTC.
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Gattaca plc is a human capital resources business, which provides contract and permanent recruitment services in the private and public sectors. Its segments include Mobility, Energy, Defence, Technology, Media and Telecoms, Infrastructure, Gattaca Projects, International and Other. It offers a range of recruitment solutions, such as workforce solutions, technical recruitment services, engineering and technology services, employer branding services, workforce insights, events, and resources, and IR35 solutions. Its workforce solutions create flexible, permanent and total workforce solutions, tailored to the engineering and technology markets. It also provides a range of engineering and technology services to support clientsâ needs, from engineering design services to analysis. It serves various markets, such as aerospace, automotive, defense, and banking and financial services. Gattaca Projects solves complex technical and operational challenges through tangible outcome-based services.