European Sales Update and Notice of AGM

RNS Number : 2066D

Gear4music (Holdings) PLC

05 July 2016

 

5 July 2016

Gear4music (Holdings) plc

Annual Report and Accounts and Notice of Annual General Meeting and European Sales Update

The board of Gear4music (Holdings) plc ('the Company'), the largest UK based online retailer of musical instruments and music equipment, announces that the Company's Annual Report and Accounts for the year ended 29 February 2016 and Notice of Annual General Meeting ('the AGM') are now available to view on the Company's website www.gear4musicplc.com and will be posted to shareholders on 5 July 2016. A related form of proxy will be posted at the same time.

The AGM will be held at 10.30 a.m. on 29 July 2016 at the offices of Walker Morris LLP, Kings Court, 12 King Street, Leeds LS1 2HL.

European sales update following the UK's EU Referendum vote

·     191% increase in European like-for-like sales in the first full week following the UK's EU Referendum vote, from Monday 27 June to Sunday 3 July.

·     Compares favourably to a 120% increase in European like-for-like sales in the week preceding the EU Referendum vote, from Monday 13 June to Sunday 19 June.

·     European sales supported by favourable exchange rates and responsive pricing.

A more detailed trading update will be provided at the AGM on 29 July 2016.

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For further information, please contact

Gear4music Andrew Wass, Chief Executive Officer Chris Scott, Chief Financial Officer	[phone]
Panmure Gordon (Financial Adviser, Nominated Adviser and Broker) Fred Walsh / Peter Steel / Duncan Monteith - Investment Banking Erik Anderson / Tom Salvesen - Corporate Broking	[phone]
MHP Communications (Financial PR) Andrew Leach Simon Hockridge	[phone]

Background to Gear4music

Operating from an office, showroom and distribution centre in York, the Group sells own-brand musical instruments and music equipment alongside premium third party brands including Fender, Yamaha and Gibson, to customers ranging from beginners to musical enthusiasts and professionals, in the UK and, more recently, into Europe.

Having developed its own ecommerce platform, with multilingual, multicurrency and fully responsive design websites covering 19 countries, the Group has rapidly expanded its database and continues to build its overseas presence.

 

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