Business Update
13 Mai 2009 - 3:50PM
UK Regulatory
TIDMREC
RNS Number : 1898S
Record PLC
13 May 2009
13 May 2009
RECORD PLC
BUSINESS UPDATE
Record plc ("Record" or the "Company"), the specialist currency investment
manager, announces today that it has been advised by an absolute return client
of its intention to terminate its mandate shortly. Record received GBP5.1m
revenue from this client in the year to 31st March 2009 and had anticipated a
similar level of revenue in the current financial year.
Record will announce its financial results for the year ended 31st March 2009 on
16th June 2009.
For further information, please contact:
+------------------------------------+------------------------------------+
| Record plc | Tel: +44 (0) 1753 852 222 |
+------------------------------------+------------------------------------+
| Neil Record | |
+------------------------------------+------------------------------------+
| Paul Sheriff | |
+------------------------------------+------------------------------------+
+------------------------------------+------------------------------------+
| Hogarth | Tel: +44 (0)20 7357 9477 |
+------------------------------------+------------------------------------+
| Nick Denton | |
+------------------------------------+------------------------------------+
| Julian Walker | |
+------------------------------------+------------------------------------+
Notes to Editors
Record plc
Record is a specialist currency investment manager and provider of currency
hedging services for institutional clients. Founded in 1983, Record has
established a market leading position as a currency asset manager. Specifically,
the Group has a leading position in managing currency for Absolute Return for
institutional clients.
The Group has three principal product lines:
* currency for Absolute Return, in which Record enters into currency contracts for
clients with the objective of generating positive returns;
* active hedging, where Record seeks to eliminate the impact of currency movements
on elements of clients' investment portfolios that are denominated in foreign
currencies when these movements are expected to result in an economic loss to
the client, but not to do so when they are expected to result in an economic
gain; and
* passive hedging, where Record seeks to eliminate fully the economic impact of
currency movements on elements of clients' investment portfolios that are
denominated in foreign currencies.
Record (LSE: REC) was admitted to trading on the London Stock Exchange on 3rd
December 2007.
This announcement includes information with respect to Record's financial
condition, its results of operations and business, strategy, plans and
objectives. All statements in this document, other than statements of historical
fact, including words such as "anticipates", "expects", "intends", "plans",
"believes", "seeks", "estimates", "may", "will", "continue", "project" and
similar expressions, are forward-looking statements.
These forward-looking statements are not guarantees of the Company's future
performance and are subject to risks, uncertainties and assumptions that could
cause the actual future results, performance or achievements of the Company to
differ materially from those expressed in or implied by such forward-looking
statements.
The forward-looking statements contained in this document are based on numerous
assumptions regarding Record's present and future business and strategy and
speak only as at the date of this announcement.
The Company expressly disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained in this
announcement whether as a result of new information, future events or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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