RM plc: Strategy timetable and closure of the Consortium business (1780881)

RM plc (RM.) 
RM plc: Strategy timetable and closure of the Consortium business 
24-Nov-2023 / 07:00 GMT/BST 
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE 
REGULATION (EU 596/2014) WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. 
For immediate release 
24 November 2023 
RM plc 
Strategy timetable and closure of the Consortium business 
 
RM plc ("RM", the "Company"), today announces in line with its strategy to be a leading global educational technology, 
digital learning and assessment solution provider, that the Board has taken the decision to close its loss-making 
Consortium business, part of the RM Resources division. 
As announced by Mark Cook, CEO, at the half year results in August, focus in the second half has been on the 
development of a strategic roadmap for RM to create a simpler, more profitable business. This included a detailed 
review of RM's portfolio to identify core areas of the business which were best placed to capitalise on the substantial 
EdTech opportunities. Full details of its strategic roadmap will be provided as part of RM's full year results 
announcement in the New Year. 
The Consortium business, the provider of education supplies and resources to schools, has experienced an extended 
period of underperformance following the negative impact of the rollout of a new ecommerce platform in 2022. Today the 
Company announces that it has taken the difficult decision to close this business from the end of December. The 
decision to close Consortium is in line with the future strategic direction for the Company and has been made with the 
full cooperation and support of its lenders. The decision will also enable RM Resources management to focus on its 
successful TTS business. 
In the accounts for the year ending 30 November 2023, the Board expects to make a material write off of the carrying 
value of Consortium and its related assets as a non-cash item, and to make an additional provision for exit costs but 
there is not expected to be any cash impact in this current financial year. 
The Company plans to issue a trading update in December for its financial year ending 30 November 2023. 
 
Mark Cook, Chief Executive of RM, said 
"The decision to simplify the business will enable us to better weather the macro challenges and build a platform for 
growth. Our 50-year heritage, leading market positions, IP, expertise, and deep customer knowledge, mean we are well 
positioned to take advantage of the structural drivers in the growing global EdTech industry and deliver for our 
stakeholders. 
But, at the same time, it is with regret that we have decided to close Consortium, a business full of hugely talented 
and valued colleagues. Unfortunately, its underperformance is a drag the Company can no longer afford and has clouded 
the good progress made elsewhere. I would like to take this opportunity to thank all my colleagues across RM for their 
continued commitment and hard work throughout this time. 
Looking ahead, I am confident that our new strategy, which we will unveil at the full year results, will shape RM into 
a pioneer of education technology, enriching the lives of learners globally." 
 
Contacts: 
RM plc                     [e-mail] 
Mark Cook, Chief Executive Officer 
Simon Goodwin, Chief Financial Officer 
Fiona O'Nolan, Investor Relations, Equitory 
 
Headland Consultancy (Financial PR)                      [phone] 
Stephen Malthouse ([e-mail]) 
Chloe Francklin ([e-mail]) 
Dan Mahoney ([e-mail]) 
 
 
Notes to Editors: 
RM provides market-leading products and services to educational institutions, exam bodies and international governments 
which improve, simplify and support education and learning. The education sector is transforming, and RM is well 
positioned to capitalise on this through its three divisions. 
     -- RM Resources is the established provider of education resources for early years, primary schools, and 
    secondary schools across the UK and to 80 countries internationally. 
     -- RM Assessment, trading under the Consortium and TTS brands, is a leading provider of assessment software, 
    supporting exam awarding bodies, universities, and governments worldwide to digitise their assessment delivery. 
 
     -- RM Technology is a market-leading supplier of ICT software, technology and services to UK schools and 
    colleges 
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Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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ISIN:          GB00BJT0FF39 
Category Code: MSCM 
TIDM:          RM. 
LEI Code:      2138005RKUCIEKLXWM61 
Sequence No.:  287008 
EQS News ID:   1780881 
 
End of Announcement  EQS News Service 
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November 24, 2023 02:00 ET (07:00 GMT)