TIDMKNOS

RNS Number : 1674D

Kainos Group plc

18 October 2022

18 October 2022

Kainos Group plc

(ÒKainosÓ or the Òthe CompanyÓ)

Bankmore Square, Belfast

Update on office development and partial sale of site

Kainos Group plc (KNOS), a leading IT provider, operating across two specialist business areas, Digital Services and its Workday Practice, is pleased to announce a further update on plans for its Belfast site, Bankmore Square, which it purchased in 2019.

In line with its previously announced strategy, the Company plans to develop a new headquarters building to accommodate existing staff in a single, environmentally sustainable, purpose-built office. The new 80,000 sq ft building will be able to support the CompanyÕs significant future growth plans and has the capacity to accommodate up to 3,000 people.

The revised design for the building will only require 50% of the existing site and, following a sale process, it is the CompanyÕs intention to dispose of the remainder of the land to QueenÕs University Belfast, who will use it to develop high quality student accommodation.

A further announcement will be made on the completion of the sale process.

The announcement of this update will allow Kainos to proceed with the selection of a contractor for the construction of the new office building. It remains the CompanyÕs intention to fund the construction using cash on the balance sheet and, subject to final design, costs and board approval, will represent a capital investment of between GBP27million and GBP30million in the new office complex.

Brendan Mooney, Chief Executive Officer of Kainos, said:

"The announcement today is another step towards the development of our new office in Belfast. Our new Bankmore Square development will provide us with a larger, more sustainable office that will bring all our colleagues together in a single location and, at the same time, provide significant capacity for our future growth.

ENDS

For further information, please contact:

Kainos via FTI Consulting LLP

Brendan Mooney, Chief Executive Officer

Richard McCann, Chief Financial Officer

Investec Bank plc +44 20 7597 5970

Patrick Robb / Ben Griffiths

Canaccord Genuity +44 20 7523 4606

Simon Bridges / Emma Gabriel

FTI Consulting LLP +44 20 3727 1000

Dwight Burden / Kwaku Aning

About Kainos

Kainos Group plc is a UK-headquartered IT provider, across two specialist business areas, Digital Services and the Workday Practice.

Our Digital Services division develops and supports custom digital service platforms for public sector, commercial and healthcare customers. Our solutions transform the delivery of these services, ensuring they are secure, accessible and cost-effective, and that they provide better outcomes for users.

Our Workday Practice is focused on the deployment of Workday Inc's Finance, HR and Planning software to leading organisations across the public, commercial and healthcare sectors. We are one of Workday's most respected partners, experienced in complex deployment and integrations and trusted by our customers to launch, test, expand and safeguard their Workday systems. We are also the leader in automated testing of customers' unique Workday configurations.

Our people are central to our success. We employ more than 2,600 people across 20 offices in Europe and the Americas.

We are listed on the London Stock Exchange (LSE: KNOS) and you can discover more about what we do and who we are at www.kainos.com.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDFLFSRILLDLIF

(END) Dow Jones Newswires

October 18, 2022 02:00 ET (06:00 GMT)

Kainos (LSE:KNOS)
Gráfico Histórico do Ativo
De Jan 2023 até Fev 2023 Click aqui para mais gráficos Kainos.
Kainos (LSE:KNOS)
Gráfico Histórico do Ativo
De Fev 2022 até Fev 2023 Click aqui para mais gráficos Kainos.