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4 NEWS 3.12.2020 AN interim statement issued by the Board of Directors at Medserv plc reports that whilst revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) were significantly lower than that re- ported for the same period last year, a strong pipeline of con- tracted work is in place which will see the performance of the company return to pre-Cov- id-19 levels in 2021. EBITDA registered for the reporting period is in line with budget and adequately covers the company's finance costs. e company also expects the results for the year to be in line with the published forecasts. e results reported were due to the suspension of work and postponement of new con- tracts due to the COVID-19 pandemic which resulted in the suspension of most of the offshore drilling activity in the second quarter of 2020, mainly due to the inability of providing a safe working environment, consequent to travel bans and closure of ports imposed by governments. e company however re- ports that Medserv has signif- icant growth potential in all its operating markets and has a substantial business pipeline stemming from the existing long-term contracts. e mega development pro- ject for the installation of pro- duction platforms offshore Libya is on track to commence late next year. is project is expected to be completed over the com- ing years. Drilling in Cyprus is to resume in the second half of the year and to continue through to 2022. e order book in the Mid- dle East is also forecast to strengthen in the second quar- ter of 2021 to reach pre-COV- ID-19 levels. e large finds in Guyana, Trinidad and Tobago, as well as the recent discoveries and future planned activity in Suri- name makes this region an ex- citing growth area for the oil and gas industry. e company has signed a Memorandum of Understand- ing (MOU) with Kuldipsingh Port Facility N.V which will allow the Company to effec- tively participate in the up- coming business in this region. Kuldipsingh is the private port operator from which Medserv carried out the logistical sup- port for the Staatsolie Near- shore Drilling project in Suri- name last year. In addition to the contracted works which were postponed due to the Pandemic, the company continued to secure new work in the second half of this year across the group. e company has also partici- pated in new tenders in Egypt and two new African markets which are at an advanced stage of being adjudicated. Medserv continues to secure new work Shireburn's Indigo Attendance named best cloud-based solution as a service SHIREBURN'S Indigo Attendance was named the best Cloud-Based Solution as a Service in this year's Malta eBusiness Awards. Shireburn had already won a series of awards for its software products, both locally and internationally, with the organisation's Indigo Payroll solution winning the award for MCA eBusi- ness Award for Best B2B App in 2017. "Success does not usually come from doing one thing right but from repeat- edly doing things right over years. You can only achieve this with vision, good design and development, excellent ex- ecution, combined with great support and continuous innovation – that is what Shireburn's team does every day," John de Giorgio, Executive Chairman of Shireburn Software, said. "Maintaining high levels is always hard. Doing so in the Technology sec- tor over a long time span is even more challenging. Yet again I find myself being so proud of the achievements of the team and grateful for the support of our clients as we get closer to the company's 37th anniversary." Indigo Attendance forms part of Shireburn's Indigo Suite solution, a powerful and easy-to-use software that simplifies staff rostering, sched- uling, labour cost management and attendance tracking. Indigo Attendance has recently in- troduced Indigo Mobile, an extension to the solution which has been adapt- ed and optimised for remote workers. Given the outbreak of the COVID-19 pandemic, Indigo Mobile has allowed Shireburn's customers to continue to leverage the Attendance module to cater for the growing cohort of re- mote workers across the island. The awards, organised by Tech.MT, aim to reward and aid in the promo- tion Malta's best tech companies and solutions. Shireburn Software is a 37-year-old software products company, specialis- ing in the development of business soft- ware solutions and their support, both locally and overseas. Solutions include accounting, payroll and HR, inventory and retail solutions among others. John de Giorgio, Executive Chairman of Shireburn Software

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