AGM Statement
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CML Microsystems Plc, which develops mixed-signal, RF and microwave semiconductors for global communications markets, will hold its Annual General Meeting today at 9.30am at which Nigel Clark, Non-Executive Chairman, will provide the following trading update.
Trading update
The Board is pleased to confirm that the Company is on track to meet management's expectations for the current financial year, and is therefore expecting to deliver a marginally profitable performance, weighted towards the second half period.
In recent weeks, the Company announced that it has secured a 12-year design and supply contract with a value in excess of $30 million across the duration of the partnership. It has also entered a binding agreement to dispose of surplus land at its Group headquarters for a total of £7 million to be received in the current financial year. These very positive developments strengthen the Company's already robust financial position and underpin expectations for sustainable growth over the medium term.
The Board remains confident in the Company's strategy and its ability to deliver value to shareholders and drive the business forward.
| CML Microsystems Plc Chris Gurry, Group Managing Director Nigel Clark, Non-Executive Chairman | Tel: +44(0)1621 875 500 |
| Shore Capital Toby Gibbs James Thomas Lucy Bowden Fiona Conroy (Corporate Broking) | Tel: +44(0)20 7408 4090 |
| Alma Strategic Communications Josh Royston Andy Bryant Robyn Fisher Emma Thompson | Tel: +44 (0)20 3405 0212 |
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