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Woodspeen Training Group Plc (WSTP)

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Friday 28 November, 2014

Woodspeen Training Group Plc

Trading Statement


                                                                1 December 2014

                                                                   GB00B2PKCW45

                         WOODSPEEN TRAINING GROUP PLC                          

                                (the "Company")                                

                                Trading Update                                 

Set out below is the text of a letter which is being posted to  shareholders in
the Company today. Copies of the letter will be available at 
www.woodspeentraining.co.uk and at www.isdx.com.

"Dear Shareholder,

I am writing  to inform you  that  after  much  deliberation  and  following  a
strategic review undertaken  earlier in the year, the  directors  of  Woodspeen
Training Group plc  (the "Company") have  decided  that  the  Company  and  its
subsidiaries should exit the training market through the sale of  the Company's
principal subsidiary, Woodspeen Training Limited ("Woodspeen").

The impact of funding constraints in the second half of the year, together with
disappointing learner volumes in  the  key  16 -18  apprenticeship  market, has
meant that the performance of the business has deteriorated significantly since
my interim report to you more than six months ago. 

In addition, the Group has been  unable  to  execute  its  growth  strategy  of
achieving scale through acquisition because of continued uncertainty  over  the
direction of future Government funding.

With great reluctance, your Board has concluded  that  there  is  no  realistic
prospect  of  the  Company  delivering  value  to  shareholders  by  continuing
operations. As  a  result, the  Company  will  seek to exit the training market
through the sale of Woodspeen. Unfortunately in the current uncertain  climate,
this sale process is likely to take several months.

If the disposal is completed, the directors intend that any surplus cash in the
Company will be returned to shareholders in the  most  tax  efficient  way. The
directors will also review the Company's listing on  the  ISDX  Growth  Market.

I want to take this opportunity to express the Board's deep disappointment that
we have not been successful in  our strategy. The  market  has  changed  beyond
recognition since the Company  was  first incorporated  and, sadly, there is no
realistic prospect of any improvement. With the benefit  of hindsight, we  were
in the wrong market at the wrong time.

I will write to you again at the end of December when the annual results of the
Company are published.

Yours sincerely,

Charles Prior
Chairman
Woodspeen Training Group Plc"

The Directors  of  the  Company  are  responsible  for  the  contents  of  this
announcement.

For further information please contact:

Woodspeen Training Group plc
Si Hussain 0786 283 7437
Lynn Chandler 0793 275 3799

Peterhouse Corporate Finance Limited
Mark Anwyl 020 7469 0930

a d v e r t i s e m e n t