Trading Update and Loan Note extension

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

14 December 2020

Journeo plc

("Journeo" or "the Company")

Trading update and loan note extension

Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to provide the following update.

Trading update

The Company has continued to perform well in the second half of the year.

Trading is expected to be ahead of the first half and meet market expectations for the full-year ending December 31^st.

Loan Notes

The Company has £0.3m of loan notes originally issued and announced on 8 December 2016 (the "Loan Notes"). The Loan Notes had an initial maturity date of 31 December 2019 before it was extended to 31 March 2021, as announced on 24 December 2018. The Company today announces that it has agreed to further extend the maturity date of the Loan Notes such that they will now be repayable on 31 March 2022. All other terms of these Loan Notes remain unchanged.

Russ Singleton, CEO of Journeo plc, said:

"The company is performing well with an improved second half, strong order book and growing pipeline of sales opportunities based upon software and services for FY21 and beyond". 

A digital copy of this announcement will be available on the Groups' website: www.journeo.com

For further information, please contact:

Notes to editors:

Journeo plc, formerly 21st Century Technology plc, is the specialist provider of advanced information systems and transit related technical services to towns, cities, and local authorities.  The Company works with many of the UK's largest multinational public transport operators, supporting them towards the creation of smarter cities.

The business comprises two segments:

·    Fleet Systems solutions, including CCTV video surveillance to improve passenger & driver safety, vehicle and driver performance monitoring, real-time on-board IT subsystems management and automatic passenger counting; and

·    Passenger Systems solutions, including design, manufacture, installation, and management of all the hardware and software for electronic passenger information systems, smart-ticketing, and wayfinding.

In the last few years, the Company has invested heavily in research and development, enabling it to design and supply the very best solutions to meet customers' complex requirements and the demands of modern public transport.  With an Internet of Things (IoT) approach and open standards, together with field-proven and reliable engineering, Journeo can offer flexible and scalable products and services that can integrate with existing technology while preparing for future advancements.