AGM Statement

RNS Number : 4300Q

Learning Technologies Group PLC

19 June 2020

 

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, 19 June 2020.

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

"2019 was an excellent year for LTG, reflecting good organic momentum from cross-selling initiatives and investment in product development.  It was particularly pleasing to see our Content & Services business return to organic constant currency growth, as expected.  The highly complementary acquisition of Open LMS at the end of March 2020 has added expertise in Moodle, a market-leading Learning Management System, and we now look to further consolidate that market. 

In light of COVID-19, we remain focused on the safety and wellbeing of our people and continue to serve our customers during the current market uncertainty.

LTG continues to see demand in line with management expectations.  It is in a strong and resilient position and is well-placed to further consolidate the digital learning and talent sector. We thank investors for their support for our recent equity fundraising.  This will enable the Group to capitalise on exciting acquisition opportunities as they emerge, as well as to capture the benefits of the acceleration of structural industry trends towards digital learning and talent management whilst maintaining a strong balance sheet. This underpins LTG's ambitious medium-term goal, to achieve c.£230 million revenues and c.£66 million adjusted EBIT on a run-rate basis by the end of 2022.

Excluding gross placing proceeds of £81.8 million received in June, net debt at 31 May 2020 was £4.5 million."

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

https://attendee.gotowebinar.com/register/84915689006595597

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, Will Baunton	[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

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 and Asia-Pacific.

 

END

 

 

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