21st May 2019 13:54
LONDON (Alliance News) - Aptitude Software Group PLC on Tuesday said preparations for the demerger and AIM stock market admission of Microgen Financial Systems is making good progress.
Shares in Aptitude Software were up 3.5% at 409.00 pence in afternoon trade.
Speaking at the financial management software company's annual general meeting, Chair Ivan Martin said the demerger and listing "will enhance Aptitude Software Group's ability to allocate capital and management attention on the higher growth Aptitude Software business."
Martin also said the plans will give Microgen Financial Systems the necessary environment to focus on independent growth in its target market and that preparations "are progressing well".
"Microgen Financial Systems is well progressed with a number of material opportunities for Microgen 5Series, an application focused on the trust & fund administration sector. Investment in the organisation continues as planned in order to accelerate Microgen Financial Systems' growth," said Martin.
The chair said that highlights in the first half of 2019 include more sales of the Aptitude Insurance Calculation Engine, it's largest Aptitude RevStream subscription so far, and progress on the Aptitude Lease Accounting Engine.
In addition, company's Aptitude Accounting Hub has had "new business successes" in 2019 so far. The Aptitude Accounting Hub is often sold alongside another of Aptitude Software's regulatory applications, but Aptitude Software is now seeing "a growing opportunity for this application on a standalone basis".
Related Shares:
Aptitude