31 March 2023

TPXimpact Holdings PLC

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

Covenant Waiver and Current Trading

TPXimpact Holdings PLC (AIM: TPX), the technology-enabled services company focused on digital transformation, provides an update in relation to its debt covenants.  

Further to the announcement made on 31 January 2023, the Group reports that it has been granted a waiver from the requirement to test each of the financial covenants applicable to its £30m revolving credit facility as of 31 March 2023. TPXimpact's lender is currently undertaking a review of the Group's short and medium term cash flow forecasts, the outcome of which will determine the nature and extent of future waivers. A further update will be provided when this review is concluded.

Current trading performance

The Board confirms trading in January and February 2023 was in line with management expectations. In addition, the momentum in new orders has continued in Q4 FY23, with new business wins of over £30m in the quarter.

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.65% of its client base representing the public sector and c.35% representing the commercial sector.

More information is available at www.tpximpact.com .