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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Kainos Group PLC    KNOS   GB00BZ0D6727

KAINOS GROUP PLC

(KNOS)
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Kainos : announces site purchase for new Belfast HQ

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02/12/2019 | 02:11am EDT

RNS Number : 6961P Kainos Group plc

12 February 2019

12 February 2019

Kainos Group plc

("Kainos" or the "Group")

Kainos announces site purchase for new Belfast HQ

Kainos Group plc, a leading provider of Digital Services and Platforms, is pleased to announce that it has it agreed to acquire a site for the development of Kainos' future Belfast headquarters. The purchase price is £7.05 million, with a ten percent deposit paid on exchange and the balance due upon completion, which is expected on 3 June 2019. The purchase will be funded using cash on the balance sheet.

Bankmore Square, on the city's Dublin Road, is being acquired from its current owner Movie House Cinemas Limited. The site received planning committee approval in May 2017 for a replacement 250,000 square foot Grade A office building, although Kainos will be submitting a revised planning application. The new premises will allow Kainos to grow and scale its workforce to support the next stage of the Group's growth.

The decision to acquire the site was made to allow Kainos to determine and control the best options available for a bespoke Grade A office within a timescale that aligns with the Group's future expansion.

CEO of Kainos, Brendan Mooney commented: "Our people remain central to everything we do and we want to ensure that our staff work in the best environment possible. As well as the additional capacity that the office will bring to our business and workforce, this investment, and the location of our new HQ, signals our commitment to retaining and attracting the best staff.

We remain focused on providing exceptional careers and working conditions for all at Kainos and hope to close this transaction soon."

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 / Sebastian Lawrence

Canaccord Genuity

+44 20 7523 4606

Simon Bridges / Emma Gabriel

FTI Consulting LLP

+44 20 3727 1000

Matt Dixon / Harry Staight

About Kainos

Kainos Group plc is a UK-based provider of Digital Services and Digital Platforms.

The Group's Digital Services include full lifecycle development and support of customised Digital Services for government and commercial customers. Kainos is also the leading European partner for Workday Inc. ('Workday') responsible for implementing Workday's innovative Software-as-a-Service (SaaS) platform for enterprise and, now, government customers.

The Group's Digital Platforms comprise specialised digital products in the mobile healthcare and automated testing arenas. Smart is an automated testing platform for Workday customers; Evolve Electronic Medical Records ('EMR') is the market leading product for the digitisation of patient notes in the Acute sector of the NHS; and Evolve Integrated Care ('IC') is a SaaS-based integrated care platform for the NHS and international healthcare providers.

Kainos has over 1,300 people across eleven offices in Europe and the USA, working interchangeably across its Services and Platforms divisions.

Kainos is listed on the London Stock Exchange (LSE: KNOS). For further information, please visit 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.

END

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Disclaimer

Kainos Group plc published this content on 12 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 February 2019 07:09:03 UTC

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Financials (GBP)
Sales 2019 150 M
EBIT 2019 23,0 M
Net income 2019 16,7 M
Finance 2019 35,0 M
Yield 2019 1,45%
P/E ratio 2019 41,34
P/E ratio 2020 36,93
EV / Sales 2019 4,25x
EV / Sales 2020 3,84x
Capitalization 670 M
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Average target price 5,58  GBP
Spread / Average Target 0,63%
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Managers
NameTitle
Brendan Mooney Chief Executive Officer & Executive Director
John George Lillywhite Chairman
Richard Henry McCann COO, Chief Financial Officer & Executive Director
Tom Gray Chief Technology Officer
Paul Gannon Executive Director & SVP-Business Development
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