Itaconix PLC AGM Statement and Notice of Capital Markets Event (9192Q)
01 Julho 2022 - 3:00AM
UK Regulatory
TIDMITX
RNS Number : 9192Q
Itaconix PLC
01 July 2022
For release: 07.00, 1 July 2022
Itaconix plc
("Itaconix" or "the Company")
Annual General Meeting Statement
and
Notice of Capital Markets Event
Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in
plant-based specialty polymers used as essential ingredients in
everyday consumer products, will at 13:00 BST today hold its Annual
General Meeting ("AGM") at the offices of Fieldfisher LLP,
Riverbank House, 2 Swan Lane, London EC4R 3TT.
At the AGM, John R. Shaw, CEO, will make the following statement
regarding current trading:
"We are pleased to announce record revenues in the first half.
We delivered our fourth consecutive year of first half revenue
growth by achieving revenues substantially ahead of any prior half
year. Demand has remained strong right into this week.
"Our business is progressing very well and places us in a strong
position to meet market expectations for revenues in 2022. We are
growing with new orders from current customers and with the
addition of important new customers in the cleaning sector. We have
an attractive pipeline of new customer projects in cleaning,
hygiene, and beauty applications. As a result, we continue to build
a much broader base of recurring revenues.
"We have the production capacity to meet expected customer needs
and a supply chain for our raw materials that has improved and
become more predictable in recent months. We are fortunate that the
value of our products and the lack of direct competition support us
in making judicious price increases as we navigate the cost
increases experienced globally. We are now passing the majority of
these costs onto our customers and so are hopeful that gross margin
will be protected in the near term.
"We remain encouraged that underlying consumer demand for the
products which contain our ingredients remains strong. Current and
prospective customers are actively seeking solutions from our
technology platform to formulate more environmentally sustainable
products, without compromising on performance or cost.
"We will provide a more detailed trading update with first half
highlights and a second half outlook in the week commencing 11 July
2022."
Capital Markets Webinar
An online Capital Markets webinar will be held live on 6 July
2022 at 14:00 BST. If you wish to attend this virtual event, please
register at the following link:
https://www.openexchange.tv/edison-group .
- Ends -
For further information please contact:
Itaconix plc +1 603 775 4400
John R. Shaw / Laura Denner
Belvedere Communications +44 (0) 74 070 23147
John West / Llew Angus
finnCap +44 (0) 20 7220 0500
Ed Frisby / Abigail Kelly / Milesh Hindocha
(Corporate Finance)
Andrew Burdis / Sunila de Silva (ECM)
About Itaconix
Itaconix uses its proprietary plant-based polymer technology
platform to produce and sell specialty ingredients that improve the
safety, performance, and sustainability of consumer products. The
Company's current ingredients are enabling and leading new
generations of products in detergents, hygiene, and hair care.
Itaconix's contributions to the global low carbon economy are
recognised by the London Stock Exchange's Green Economy Mark.
www.itaconix.com
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END
AGMURVBRUOUNOAR
(END) Dow Jones Newswires
July 01, 2022 02:00 ET (06:00 GMT)
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