CLIQ Digital - Pressing the pause button

CLIQ Digital no longer intends to delist or to carry out a partial share buyback, and has withdrawn current year financial guidance. This uncertainty stems from policy changes by the group's payment providers that render it unable to process some customer payments or onboard new customers. Management is actively negotiating both to find a solution with existing providers and to broaden the provider base. The full impact of the current situation will be felt from Q325. The Q225 and H125 figures demonstrate CLIQ's ability to retrench spend on customer acquisition and overhead to defend margin, with profitability and cash preservation paramount. Net cash at end June was €20.0m (excl. lease liabilities), more than the current market capitalisation. Management intends to redeem and cancel treasury shares (10% of the issued share capital), which would leave Dylan Media with a 46% equity shareholding. We have withdrawn forecasts due to the level of uncertainty.

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