Ingenta PLC
2 April 2002
Date: Embargoed until 11.00hrs, Tuesday 2nd April 2002
Contacts: Ingenta Website: www.ingenta.com
Mark Rowse, Chief Executive Tel: 01865 799000
David Callcott, Finance Director Tel: 01225 361020
Hudson Sandler
Alistair Mackinnon-Musson Tel: 020 7796 4133
Philip Dennis Email: ingenta@hspr.co.uk
Ingenta plc
On track to deliver results in line with expectations at half year
Change of brokers and Board appointment
Finalisation of CatchWord deferred consideration and placing
Current trading and prospects
Ingenta plc, the global market leader in the online distribution of published
scientific, professional and academic research, is pleased to confirm continuing
strong sales growth and further increases in margins in the first half of its
financial year to 31st March 2002. Management is confident that results for the
period and profits for the financial year to 30th September 2002 are currently
in line with expectations.
The Company's unaudited interim results for the six months to 31st March 2002
will be announced on 13th May 2002.
Change of brokers and Board appointment
Ingenta is pleased to announce that it has appointed Collins Stewart as its
Nominated Adviser and Broker with effect from 1st April 2002. At the same time
the Board is pleased to announce the promotion of Andrea Keyhani, Chief
Operating Officer, to the Ingenta plc Board also with effect from the 1st April
2002. Andrea brings 20 years of experience in the online information industry
and has contributed significantly to Ingenta's sales growth and development of
its US activities since joining the Company in September 2000.
Finalisation of CatchWord deferred consideration and placing
Under the terms of the acquisition of CatchWord on 8th February 2001, an amount
of deferred consideration was payable based on the contribution of certain
elements of the CatchWord business in the year ended 31st December 2001. This
deferred consideration has been satisfied by the issue of a total of 2,631,578
new ordinary shares in Ingenta and the placing of 433,334 new ordinary shares
with institutional investors at 150p per share on behalf of the vendors, who
have entered into orderly marketing arrangements in respect of the balance of
the shares issued as deferred consideration. In addition, a further 500,000 new
ordinary shares have been placed with institutional investors at 150p per share
to raise £0.75m of new equity capital for the Company, completing the raising of
funds for further investment in the HERON acquisition announced on 11th March
2002. Admission of the new ordinary shares to AIM is expected to become
effective at 8.00am on 5th April 2002.
Notes to editors
Ingenta plc (www.ingenta.com)
Ingenta is the global market leader in the management and distribution of
published scientific, professional and academic research via the Internet, and
develops and maintains specialist websites for publishers, self-publishing
societies and libraries.
For publishers of scientific, professional and academic periodicals, journals
and reference works, Ingenta provides a suite of publisher services including
data conversion, secure online hosting, access control and distribution
services. This research content - 12 million articles from over 5,400 online
publications and 20,000 fax delivered publications - is accessed by over 4
million researchers a month via ingenta.com and other websites, making Ingenta
one of the 10 largest Web service providers in the UK.
Ingenta's revenue streams derive from:
• Fees paid by customers for publisher services. (Publisher Services)
• Fees paid by customers for specialist website build and maintenance and
a share of and website subscription revenues. (Specialist Websites)
• A share of pay-per-view article purchases. (Pay-Per-View)
In March 2002, Ingenta was identified as one of the top 100 most visionary
companies in the UK by the BT Vision 100 Index, in association with The
Guardian.
Matters for disclosure under paragraph 15 and schedule 2 - paragraph (f) of the
AIM Rules with respect to the appointment of Andrea Keyhani:
Full name: Andrea Keyhani
Age: 53
Current directorships: None
Directorships held within the past
five years: None
There are no further disclosures required to be made pursuant to paragraph 15
and schedule 2 - paragraph (f) of the AIM Rules for companies.
This information is provided by RNS
The company news service from the London Stock Exchange
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