AGM Statement and Update

RNS Number : 6189O

Intercede Group PLC

21 September 2011

 



Intercede Group plc

("Intercede" or "the Company")

ANNUAL GENERAL MEETING STATEMENT AND UPDATE

At the Company's Annual General Meeting, Richard Parris, Chairman and Chief Executive, will make the following statement:

"I am pleased to report satisfactory trading during the first half of the current financial year, together with a pipeline of future business opportunities that continues to be robust.

There have been a number of commercial successes and industry milestones achieved in the period, including the following:

-     Implementation of large scale corporate identity card projects in ANZ Bank, Booz Allen Hamilton, BASF, Boeing, HealthSmart Australia, Lockheed Martin and Swedbank;

-     Delivery of services to support major MyID system upgrades in US Federal Aviation Authority, Kuwait Public Authority for Civil Information, Road Safety Authority Ireland;

-     Deployment of MyID to issue ID cards to members of the newly elected Portuguese Parliament;

-     Increasing collaboration with Microsoft in the US and the first confirmed sale to a corporate customer of the Intercede MyID connector for Forefront Identity Manager;

-      Teaming with Atos, Verisec, the Post Office and Thales to win the London Identity Provider framework contract;

-      Collaboration with major systems integrators on multiple tender responses for large scale US Federal identity programs requiring PIV and PIV-I solutions and numerous national ID programs around the world;

-      The development of a new technology to enable the over-the-air (OTA) provisioning of digital certificates to mobile devices using MyID. This technology will be previewed at SmartEvent in Nice on 23 September;

-      The continuous improvement of the core MyID platform including the release of MyID v8 Enterprise SP2 and MyID v9 PIV Service Pack 1;

-      The award of ISO9001 and TickIT certification to Intercede, as announced on 14 September 2011.

When we announced full year results for the year ended 31 March 2011, I stated that in a world where the threat of cyber attack grows by the day, organisations are ever more concerned to preserve the security of their information. The major trends of today - the ability of mobile devices and laptops to receive and transmit massive amounts of information, the rise of the mobile workforce and the spread of social networking - are at the heart of this concern. This is leading to an increasing need for stronger authentication and need for the information itself to be encrypted. This is presenting a potentially vast market opportunity for Intercede, as its MyID Identity and Credentials Management system is ideally suited to deliver the necessary security and identity assurance.

Separately, citizen identity projects to support border security, benefits entitlement, voter registration and on-line commerce are emerging at an ever increasing rate. In response, Intercede has been involved with multiple partners during the last six months to submit commercial bids to governments around the world. In our experience lead times are long and government procurement cycles are unpredictable especially in the developing world. Nevertheless, Intercede expects to profit from this work in future periods.

I also stated that in order to fully exploit this opportunity and meet the needs of a growing number of customers, Intercede would need to scale up our business capabilities. To that end, we have invested in research & development, sales & marketing and customer support. As a result, the number of people employed by Intercede has increased by 20% compared to the same period last year.

Intercede continues to have cash balances in excess of £6 million cash and the order backlog and sales pipeline means that trading for the financial year as a whole remains in line with current expectations."

ENQUIRIES

Intercede Group plc	Tel.        [phone]
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
FinnCap	Tel.      + 44 (0)20 220 0500
Corporate Finance - Charles Cunningham /
Rose Herbert
Corporate Broking - Joanna Weaving
Pelham Bell Pottinger	Tel.        [phone]
Archie Berens
Clare Gilbey

About Intercede

Intercede is the producer of the MyID Identity and Credential Management System (IDCMS).

Intercede MyID technology is being used around the world by large corporations, governments and banks to manage millions of identities for employees, citizens and customers. Notable deployments in the US include 14 federal agencies, two million smart cards in support of the US Transportation Worker Identity Credential program (TWIC), four US financial institutions and 320,000 smart corporate identity badges for Boeing, Booz Allen Hamilton and Lockheed Martin. In Europe and the Middle East Intercede MyID is being deployed in support of government identity, health and corporate employee ID security projects.

Intercede MyID is the only IDCMS software product that enables organizations to easily and securely manage the identities of people and their associated identity credentials within a single, integrated, workflow driven platform. This includes enabling and managing secure registration, biometric capture, application vetting and approval through to smart card personalization, issuance and management.

Intercede MyID was the first electronic personalization product to achieve compliance with the US FIPS-201 Personal Identity Verification (PIV) standard and is widely deployed by federal agencies, government contractors and other commercial entities. In particular, it supports the latest standards applicable for all PIV, PIV-Interoperable and PIV-Compatible deployments.

It can issue and manage a wide variety of IDs and credentials, providing customers with a platform that can meet their needs now and in the future. It is a fully supported commercial off-the-shelf product that can be quickly deployed for thousands or millions of users.

For more information visit www.intercede.com

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