Eckoh PLC
02 April 2008
2 April 2008
Eckoh Plc
('Eckoh' or the 'Group')
Takeover Discussions & Trading Update
Further to the announcement of 31 January 2008, Eckoh provides an update on its
discussions with Telephonetics Plc ('Telephonetics') as well as an update on its
business.
Since 31 January 2008, Eckoh and Telephonetics have held a series of meetings to
discuss a potential offer being made for the entire issued and to be issued
share capital of the Company. The two companies have not been able to reach an
agreement that the Board believes would be in the best interests of shareholders
and consequently these discussions have been terminated.
However, the Board is still in discussions with various parties in which other
transactions are being considered, although none of the discussions at this
stage contemplate an offer being made for the entire issued and to be issued
share capital of the Group.
The Directors can also announce that good progress was made in the second half
of the year and as a result the Board is confident of announcing results for the
year ended 31 March 2008 ahead of market expectations.
The cost reduction programme has been completed which has reduced the annual
fixed costs in the business by over £1m. The full financial benefit of these
developments will be seen in 2008/9.
The good progress has continued into the new financial year and Eckoh has been
successful in converting a number of new opportunities in the speech solutions
area. The Company is in the process of completing and signing these contracts
which will be announced in due course and will continue to focus on its growth
strategy to aggressively expand its automated speech solutions business in the
UK and continental Europe.
Enquiries:
Eckoh plc
Nik Philpot, Chief Executive Officer
Adam Moloney, Group Finance Director
Jim Hennigan, Executive Director
www.eckoh.com Tel: 01442 458 300
Seymour Pierce Limited
Jonathan Wright Tel: 020 7107 8000
Corfin Communications
Harry Chathli, Neil Thapar Tel: 020 7977 0020
This information is provided by RNS
The company news service from the London Stock Exchange
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