24th Apr 2007 07:00
Microgen PLC24 April 2007 MICRGOGEN Information Management Solutions 24 April 2007: embargoed for release at 7-00am AGM Trading and Business Update At the Company's Annual General Meeting to be held at 9-00am this morning,Martyn Ratcliffe, Chairman, will provide the following update on trading and thebusiness : "Trading performance in the first part of the year is in line with the Board'sexpectations and the Group's priorities for the 2007 financial year, as outlinedin our February preliminary results statement, are on track. Microgen Aptitude continues to gain market recognition for its leadingtransaction performance levels and event driven architecture. Furthermore, theGroup is currently in the final stages of negotiations on potentially itslargest project to date for Microgen Aptitude, comprising licence, consultancyand support, with a major new Financial Services customer. The Board has also continued to rationalise the Group's property portfolio, withthe settlement and exit from its most onerous legacy lease at a level in-linewith the accrual previously taken. The Group is also in negotiation for thedisposal of one of its long-leasehold properties at a price in excess of thevalue currently held on the balance sheet. If completed, this disposal wouldproduce an exceptional profit in the current financial year and increase netfunds by approximately £2 million. The cash arising would be used in part torepay in full the mortgage associated with that property. In summary, Microgen has started the year well and the organic development ofthe Group continues to make good progress. In parallel, the Board continues toexplore merger and acquisition opportunities, although the Board remains prudentand there is no certainty that any such transactions will be completed." - Ends - Contact: Microgen plcPhilip Wood, Group Finance Director Tel : 01252 772312www.microgen.co.uk Financial DynamicsGiles Sanderson Tel: 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Aptitude