AGM Statement

RNS Number : 7974Z

Learning Technologies Group PLC

26 May 2021

 

Learning Technologies Group plc

("LTG", the "Group")

(AIM: LTG)

AGM statement

LTG, the provider of services and technologies for digital learning and talent management, is pleased to provide the following statement ahead of its Annual General Meeting ("AGM") to be held online via video conference at 11am today, 26 May 2021.

Andrew Brode, Chairman of LTG, will make the following remarks at the AGM:

"In 2020 we continued to make excellent progress with our strategy to build a global leader in software and services in the learning and talent sectors to meet the growing demand of our corporate and government customers.

During the year, LTG broadened its offering and addressable market significantly through the acquisitions of Open LMS, eThink and eCreators which together give the Group global market leadership in the open-source Moodle™ market.  The acquisition of Patheer in 2020, and of Reflektive and Bridge in the first quarter of 2021, have further strengthened our expansion into the talent development mid-market.  PDT Global, a leading provider of diversity and inclusion training solutions, was acquired in February 2021 and already operates alongside our US-based Affirmity operation to enable clients to objectively measure and track their D&I performance and implement change.

Current trading for the year has started well and in line with management expectations despite the weakening of the US Dollar against Sterling.  The Board is confident of a strong recovery in our Content & Services division in 2021 and is encouraged by the performance of the Software & Platforms division which has been enhanced by the contribution of our recent acquisitions where integration is well advanced and delivering ahead of expectations.  This overall momentum underpins LTG's ambitious medium-term goal, to achieve c. £230 million revenue and c. £66 million adjusted EBIT on a run-rate basis by the end of 2022.

Net cash at 30 April 2021 was c. £24.8 million. Together with our bank facilities, the Company has substantial capacity to pursue our exciting pipeline of further acquisition opportunities."

The registration link for shareholders to join the virtual AGM can be found here:

https://www.ltgplc.com/news/registration-invitation-for-ltg-shareholders-2021-annual-general-meeting/

Enquiries:

Learning Technologies Group plc Jonathan Satchell, Chief Executive Neil Elton, Chief Financial Officer	[phone]
Numis Securities Limited (NOMAD and Corporate Broker) Stuart Skinner ,  Nick Westlake, Ben Stoop	[phone]
Goldman Sachs International (Joint Corporate Broker) Bertie Whitehead, Adam   Laikin	[phone]
FTI Consulting  (Public Relations Adviser) Rob Mindell, Jamie Ricketts, Chris Birt	[phone]

About LTG

Learning Technologies Group plc (LTG) is a leader in the growing workplace digital learning and talent management market. The Group offers end-to-end learning and talent solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to close the gap between current and future workforce capability.

LTG is listed on the London Stock Exchange's Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, North America, South America and Asia-Pacific.

 

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