Ascential PLC Money20/20 China
October 25 2019 - 2:00AM
RNS Non-Regulatory
TIDMASCL
Ascential PLC
25 October 2019
RNS REACH
25 October 2019
Ascential plc
Money20/20 China
Ascential plc (LSE: ASCL.L), the specialist, global information
company today announces that Money20/20 China, previously planned
for 4-6 December 2019, has been deferred and will not take place
this year. The previous edition of Money20/20 China in 2018
generated GBP2.5m of revenue and in 2019, the one-off costs
relating to Money20/20 China are not expected to impact Adjusted
EBITDA by more than GBP1.5m.
The decision to defer Money20/20 China has been taken in light
of a short-term hiatus for international companies in the Chinese
Fintech market, arising from a combination of macro-economic trends
and changes in local market dynamics including significant changes
in the Peer-to-Peer lending sector (an important revenue source in
2018). Management intend to return the event to Hangzhou in China
in due course when market conditions are conducive to a high
quality event that befits its importance.
For further information, please contact:
FTI Consulting LLP 020 3727 1000
Ed Bridges / Matt Dixon / Jamie Ricketts
Ascential is a specialist, global, information company that
helps the world's most ambitious businesses win in the digital
economy. Our information, insights, connections, data and digital
tools solve customer problems in three principal disciplines:
-- Product Design via global trend forecasting service WGSN;
-- Marketing via global benchmark for creative excellence and
effectiveness Cannes Lions and WARC, and strategic advisory firm
MediaLink; and
-- Sales via ecommerce-driven data, insights and advisory firm
Edge by Ascential, leading managed services provider for Amazon,
Flywheel Digital, the world's premier payments and FinTech congress
Money20/20, global retail industry summit World Retail Congress and
Retail Week.
Ascential also powers political, construction and environmental
intelligence brands DeHavilland, Glenigan and Groundsure - together
comprising the Built Environment and Policy segment.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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