REG - Microgen PLC - Trading Update <Origin Href="QuoteRef">MCGN.L</Origin>

Aptitude SoftwareAnnouncement

28/01/2015 02:18

RNS Number : 9350C
Microgen PLC
23 January 2015
microgen
www.microgen.com
 23 January 2015
TRADING UPDATE
Microgen plc ('Microgen' or 'the Group') anticipates issuing its preliminary results for the year ended 31 December 2014 in late February 2015. Trading in the final months of the year continued satisfactorily and Microgen anticipates the results to be in line with Board expectations. Both operating businesses made progress on their strategic objectives.
At 31 December 2014, the Group had gross cash of 40.9 million and net funds of 24.6 million. In addition to the add-on acquisition completed in the Financial Systems business, the Board evaluated numerous potential larger opportunities during 2014. While continuing to evaluate add-on acquisitions, in the current market environment it is not anticipated that attractive larger opportunities to deploy the Group's substantial cash resources will arise in the foreseeable future. As a result, the Board has reviewed the cash requirements of the business and is evaluating the possibility of a material return of cash to shareholders, in the order of 15-20 million. Further details will be provided at the time of the preliminary results.
Contacts
Martyn Ratcliffe, Chairman   020-7496-8100
Philip Wood, Group Finance Director
Lucy Delaney, FTI Consulting   020-3727-1131

This information is provided by RNS
The company news service from the London Stock Exchange
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