Harvest Technology p l c : Approval of Interim Dividend and Business Update
December 02, 2022 at 09:54 am EST
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COMPANY ANNOUNCEMENT
Harvest Technology p.l.c.
Approval of Interim Dividend and Business Update
Date of Announcement
2 December, 2022
Reference No:
39/2022
Capital Markets Rule:
5.16.4
QUOTE
Declaration of interim dividend
The Board of Directors of Harvest Technology p.l.c. (C-63276) (the "Company") hereby announces that, having considered the position of the Company by reference to the interim financial statements for the financial period ended 30 June, 2022 approved and published on 5 August, 2022 (vide announcement HRV35) as well as the management accounts of the Company as at 31 October, 2022, it has resolved to distribute an interim net dividend of €227,806 (subject to rounding), equivalent to €0.01 per share (having a nominal value of €0.50 per share) (the "Dividend"). Shareholders appearing on the Company's register of members maintained by the Central Securities Depository of the Malta Stock Exchange as at close of business on 9 December, 2022 shall be entitled to receive their respective share of the Dividend. Payment of the Dividend shall be effected on or around 20 December, 2022.
Business Update
On 3 June 2022 (vide announcement HRV 30) the Company highlighted the key challenges impacting the financial performance of the current year, particularly regulatory changes, the war in Ukraine, supply chain issues and rising inflation. The changes in the regulation of online gaming across multiple jurisdictions are having a negative impact on the Payment Processing Services business, and management has taken several measures to mitigate this risk by further diversifying the client mix towards other sectors. In the second half of 2022, the Company's subsidiaries PTL Limited (C-3545) and Apco Limited (C-8724) were particularly affected by delays in the awards of several multi-million
Euro contracts which were expected to start in 2022 but will now start in 2023. Whilst it is positive that such contracts have been secured for the coming year, the said delays inevitably had a negative impact on the current year's performance of the Harvest group.
Based on the ongoing assessment of the group's performance and considering the continued persistence of the previously highlighted challenges, profit before tax for the year is expected to be lower than previously projected. In light of the aforesaid, the Board resolved to distribute an interim dividend amounting to €0.01 per share.
Despite a challenging macroeconomic environment, the Company continues to invest carefully in its operating subsidiaries with a view to strengthening their market position and driving further growth, and its drive to pursue acquisitions and expand internationally continues to be a key strategic focus.
UNQUOTE
Dr Malcolm Falzon
Company Secretary
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Disclaimer
Harvest Technology PLC published this content on 02 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2022 14:53:03 UTC.
Harvest Technology p.l.c. is a Malta-based holding company. The Company is mainly involved in the sale, maintenance and servicing of information technology solutions, security systems, and to provide electronic payments solutions. The Company provides multi-brand information technology solutions to businesses and the public sector. In addition, it is a payments solutions provider offering e-commerce processing services for retailers and internet-based merchants together with the provision of a range of automation and security solutions catering to the banking, retail, law enforcement and other sectors. It operates two business activities, which are the sale of payment processing services and the provision of IT solutions and security systems. The Companyâs subsidiaries are PTL Ltd, APCO Systems Ltd and APCO Ltd. PTL Limited provides information technology solutions to clients based on its expertise in hardware infrastructure and software business applications.
HARVEST TECHNOLOGY P.L.C. 
