5th May 2006 10:32
Intellego Holdings PLC05 May 2006 FOR IMMEDIATE RELEASE 5 May 2006 INTELLEGO HOLDINGS PLC ("Intellego" or "the Company") EGM and Trading Statement Intellego Holdings plc announced that that at the Extraordinary General Meetingheld yesterday the resolution to give the Directors the authority to allottadditional equity securities of up to an aggregate nominal amount of £125,000was duly passed. Mike Couzens, Chairman, provided the meeting with a trading update stating thatwhilst trading for the last quarter had been buoyant and prospects for thecurrent year are good, the overall performance for the past six months had beenaffected by changes in the demand pattern from clients, specifically an emphasison larger projects with longer sales cycles and a greater services component.. In the 15 months since the Company was admitted to AIM, it has started two newdivisions, which included (1) adopting new products to address the BusinessAutomation software training market and (2) an expansion of the relationshipwith its Learning Management System vendor, NetDimensions. Consequently, theCompany has moved significantly up the value chain incorporating a greaterproportion of value added services into its revenue mix. The business now hasmore sales and service delivery resource to support the growth of the Company inits expanding markets. However, the costs associated with these resources haveresulted in an increase in losses in the second half of the year compared withthe first half. The appointment of a full time Finance Director, RanjitRoy-Choudhuri will complement the strengths of the two founders Edward Arnettand Andy Green who will be able to concentrate on business development . The Company expects to be able to announce significant new contract wins acrossall of its divisions in the near future. Intellego Holdings Plc Edward Arnett Tel: 0870 428 1250Andy Green www.intellego-holdings.com Beaumont Cornish Limited Roland Cornish Tel: 020 7628 3396 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ARGP.L