13th Nov 2007 07:01
Angle PLC13 November 2007 For Immediate Release 13 November 2007 ANGLE plc ('ANGLE' or the 'Company') Pre-close update The Board of ANGLE is pleased to provide the following pre-close update ahead ofits interim results for the six months ended 31 October 2007. Solid progress has been made within the portfolio of Venture companies. In orderto produce significant shareholder value in the future, large equity stakes arebeing retained in these potentially high growth portfolio companies. However,the introduction of third party investors is enabling ANGLE to reduce itsongoing cash contribution as well as demonstrating value on the ANGLE balancesheet. As previously announced, portfolio company Geomerics completed a financing whichlead to an increase in the net asset value of ANGLE's holding of £4.0 million. ANGLE expects to report an overall profit from its venture investment operationsin the first half. The Management Services business is trading ahead of expectations and iscontributing cash to fund investment activity. Cash balances at 31 October 2007were ahead of management's expectations. ANGLE will announce its interim results in January 2008 when a fuller report onprogress will be provided. Enquiries:ANGLE plc 01483 295830Andrew Newland, Chief ExecutiveIan Griffiths, Finance Director Collins Stewart Europe Limited 020 7523 8350Mark Connelly Scott Harris 020 7653 0030Stephen Scott, James O'Shaughnessy, Harry Dee Buchanan Communications 020 7466 5000Richard Darby, Suzanne Brocks, James Strong Notes to Editors Founded in 1994, ANGLE is an international venture management company focusingon the commercialisation of technology and the development of technology-basedindustry. ANGLE creates, develops and advises technology businesses on its ownbehalf and for its clients. ANGLE is listed on AIM (AGL.L); further informationcan be found on www.ANGLEplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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