7 September 2022

TPXimpact Holdings PLC

("TPXimpact", "TPX", the "Group" or the "Company")

Finalisation and posting of Annual Report and Financial Statements

Notice of AGM

TPXimpact Holdings PLC, the technology-enabled services company focused on digital transformation, confirms it has today posted its report and accounts for the financial year ended 31 March 2022, together with the notice of AGM, to those shareholders who have requested hard copies. Electronic copies of both documents are available to download on the Company's website at www.tpximpact.com/investor-relations in accordance with AIM Rule 20.

The Annual Report includes the audited Group and Company Financial Statements for the year ended 31 March 2022. Following completion of the final audit, there are a number of differences from the unaudited preliminary results that are set out below. None of these differences have impacted the Group's previously reported adjusted EBITDA or cash flows for the year ended 31 March 2022.

Taxation

The charge for taxation included in the unaudited consolidated income statement of £2.4 million (as per the Preliminary Results) has reduced to a charge of £1.8 million in the audited consolidated income statement (included in the audited Group financial statements). The change is due to the finalisation and subsequent audit of the Group's corporate tax computation for the year ended 31 March 2022 and has had a positive impact on adjusted and reported EPS as set out further below.

Gain from fair value movement in contingent consideration

The gain from fair value movement in contingent consideration in the unaudited consolidated income statement of £2.5 million (as per the Preliminary Results) has reduced to a gain of £0.2million in the audited consolidated income statement (included in the audited Group financial statements). The change is due to management reclassifying certain movements in the fair value of contingent consideration from the consolidated income statement to equity, due to a reconsideration of the nature of these transactions as equity-related. As set out in the preliminary results, management adjust out this gain when looking at the underlying performance of the business.

Overall impact on changes

Neither of these amendments has impacted the Group's previously reported adjusted EBITDA or cash flows for the year ended 31 March 2022. However, the change in corporate taxation charge has increased reported and adjusted profit after tax and, therefore, reported and adjusted earnings per share. In addition, the change in gain from fair value movement in contingent consideration has reduced reported profits and, therefore, reported earnings per share.

These amendments have not had a material impact on the Group's consolidated balance sheet. Net assets are £78.6 million in the audited Consolidated Statement of Financial Position (previously reported as £78.7 million in the Preliminary Results).

Basic and diluted earnings per share have changed as follows:

The Group's Annual General Meeting ("AGM") will be held on 30 September 2022 at 11 a.m. at the offices of Stifel Nicolaus Europe Limited, 150 Cheapside, Fourth Floor, London, EC2V 6ET.

TPX invites shareholders to submit questions in advance of the AGM by emailing them to [email protected].

Questions should be submitted by 9 a.m. on 28 September 2022 and the Company will ensure, to the extent practicable, that the answers are directly responded to, with responses to questions of common interest also made available on its website at www.tpximpact.com as soon as practical following the meeting.

ENDS 

Enquiries:

About TPXimpact

TPXimpact exists to transform the organisations, services and systems that underpin society and that drive business success. It applies strategic and creative thinking, technology, innovative design and user-centred approaches to bring about numerous improvements which together multiply the impact of change.

The Company works closely with its clients in agile, multidisciplinary teams that span organisational design, technology, and digital experiences. It shares a deep understanding of people and behaviours and a philosophy of putting people and communities at the heart of every transformation.

The business is being increasingly recognised as a leading alternative digital transformation provider to the UK public services sector, with c.72     % of its client base representing the public sector and c.28     % representing the commercial sector.

More information is available at www.tpximpact.com.