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On 03 October 2024, Kinovo Plc provided an update regarding its former construction division, DCB (Kent) Ltd, stating that works at the penultimate project concluded in September 2024, with additional works now underway and to be separately paid for by the client. The company also confirmed the release of the £0.9m performance bond relating to the final project.
| Date | 3 Oct 2024 |
| Time | 07:00:03 |
| Category | Corporate updates |
| ID | 7265G |
3 October 2024
("Kinovo", the "Group" or the "Company")
DCB (Kent) Ltd update
Kinovo Plc (AIM: KINO), the specialist property services Group that delivers compliance and sustainability solutions, provides the following update regarding DCB (Kent) Ltd ("DCB"), the Group's former construction division.
Works at the penultimate project concluded in September 2024. The Group has agreed to complete additional further works at this property, which are now underway and will be paid for separately by the client. This does not affect the final cost to complete and the Company will confirm in due course once practical completion has been achieved.
As previously announced, the performance bond of £0.9m relating to the final project was deferred after agreeing to the resolution of the final of the nine DBC projects. The Company is pleased that, having met their contractual obligations with the required number of payments having been made, the performance bond has now been released.
Enquiries
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Kinovo plc |
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Sangita Shah, Chairman David Bullen, Chief Executive Officer |
+44 (0)20 7796 4133 (via Hudson Sandler) |
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Canaccord Genuity Limited (Nominated Adviser and Sole Broker) |
+44 (0)20 7523 8000 |
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Adam James Andrew Potts Harry Rees |
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Hudson Sandler (Financial PR) |
+44 (0)20 7796 4133 |
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Dan de Belder Harry Griffiths Will Reynish |
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