RM confirms financial close o

RNS Number : 1303I

RM PLC

05 March 2010

 

RM confirms financial close of Hull BSF contract

RM confirms that it has secured the contract to provide managed ICT services to nine schools in the £400 million Hull BSF (Building Schools for the Future) programme. The contract is expected to be worth £16.5m to RM.

It comes after the Hull Esteem Consortium - comprising Morgan Sindall Investments, Robertson Capital Projects and Sewell Group - reached financial close on the first phase of the scheme. RM previously announced on 5 November 2009 that the Hull Esteem Consortium had been appointed selected bidder for the contract.

Two subsequent phases of the programme will cover a further 14 schools.

RM has now been selected to provide ICT services for 16 BSF programmes across the UK.

For further information, please contact:

Mike Greig/Phil Hemmings, RM plc	08450 700300
Chris Blundell/Franziska Boehnke, Brunswick	020 7404 5959

Notes:

1.   The RM Group is a leading provider of educational solutions that help teachers to teach and learners to learn. RM works closely with educationalists to create new products, processes and technology which improve education. RM is listed on the main market of the London Stock Exchange under the symbol RM.L, ISIN GB0002870417. Further details are available at ww.rm.com/investors and through the Group's investor blog at rminvestors.wordpress.com

2.   BSF is the largest single schools capital investment programme for over 50 years. BSF will provide world-class teaching and learning environments for all teachers, pupils and communities in England. A key part of the initiative is to ensure that local authorities develop a sustainable area-wide ICT strategy for schools in line with the Government's personalised learning agenda: 10% of the funding is ring-fenced for ICT.

3.   The Hull Esteem Consortium comprises Morgan Sindall Investments, Robertson Capital Projects and Sewell Group.

 

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