Aquis Exchange PLC - FY24 Trading Update

4 March 2025

Aquis Exchange PLC

("Aquis", the "Company" or the "Group")

FY24 Trading Update

Aquis, the creator and facilitator of next generation financial markets, today announces a trading update for the year ended 31 December 2024 ("FY24"). In accordance with Aquis' accounting policies, Management has increased its Expected Credit Loss provisions in respect of two existing technology clients, reflecting a heightened credit risk.

As a result, the Board now anticipates that FY24 financial performance will be £3.7m lower than its previous expectations.   

Aquis remains focused on diversifying its technology client mix, and is encouraged by recent growth and positive momentum in the late-stage sales pipeline.

The underlying trading performance of the business for FY24 remains in line with Board expectations. Management is pleased with the positive momentum across the business in the year to date and continues to expect strong growth in FY25. The Group's balance sheet remains strong with a net cash position of £13.7m as at 31 December 2024.

As previously announced on 20 December 2024, the requisite majorities of shareholders voted in favour of the cash offer for the Company by SIX Exchange Group AG to be implemented by way of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act (the "SIX Offer"). Subject to the satisfaction (or waiver, where applicable) of the outstanding conditions to the SIX Offer, the SIX Offer remains expected to complete in Q2 2025.

This announcement contains inside information for the purposes of UK MAR. The person responsible for arranging the release of this announcement on behalf of the Company is Richard Fisher, Chief Financial Officer. 

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About Aquis Exchange PLC

Aquis Exchange PLC ("Aquis") is Europe's challenger exchange, creating better markets for a modern economy. Aquis has market-leading technology and innovative rules for trading, and offer primary listings and secondary trading of equities, along with global licensing of proprietary technology.

Aquis consists of four divisions:

Aquis Markets operates lit and dark order books, covering 16 European markets. For its lit books, Aquis uses a subscription pricing model which works by charging users according to the message traffic they generate, rather than a percentage of the value of each stock that they trade.

Aquis Technologies is the software and technology division of Aquis. It focuses on building better markets via the creation and licensing of cutting-edge, cost-effective exchange infrastructure technology and services, including matching engine and trade surveillance solutions.

Aquis Stock Exchange (AQSE) is a stock market providing primary and secondary markets for equity and debt products. It is authorised as a Recognised Investment Exchange, which allows it to operate a regulated listings venue. The AQSE Growth Market is divided into two segments 'Access' and 'Apex'; the Access market focuses on earlier stage growth companies, while Apex is the intended market for larger, more established businesses.

Aquis Data generates revenue from the sale of data derived from Aquis Markets and Aquis Stock Exchange to market participants.

Aquis is authorised and regulated by the UK Financial Conduct Authority and France's Autorité de contrôle prudentiel et de résolution and L'Autorité des marchés financiers to operate Multilateral Trading Facility businesses in the UK & Switzerland markets and in EU27 markets respectively. Aquis Exchange PLC is quoted on the Aquis Stock Exchange and on the AIM Market (AIM) of the LSE. For more information, please go to www.aquis.eu.