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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rome Resources Plc | LSE:RMR | London | Ordinary Share | GB00BYY0JQ23 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-9.20 | -96.79% | 0.305 | 0.29 | 0.32 | 0.35 | 0.305 | 0.35 | 551,396,122 | 15:57:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4577S RMR PLC 5 March 2002 RMR plc ("RMR" or the "Company") Trading statement and proposed board changes Since the acquisition of Learning Angles Limited ("LA") in November 2001 trading conditions in the sectors in which RMR operates have been difficult. In particular LA has made no sales in the period since its acquisition and group sales for the second half of the year to 28 February 2002 will be lower than those achieved in the first half-year. This will result in an estimated second half operating loss of approximately £2 million. Against this background and the continuing review of the operations several strategic decisions have been implemented. The Board has decided to discontinue the LA business and to terminate the contracts of Chris Thomas and Gwyn Jones who joined the RMR board at the time of the LA acquisition. The Company is taking the necessary steps to remove them from the Board. One of the vendors of LA has agreed to return his share of the initial consideration and to forego his rights to performance linked consideration. The Company intends to commence legal proceedings against the other two vendors of LA to recover the balance of the consideration. RMR will continue to be a provider of software solutions to organisations with complex information needs through its Elevate events and Elevate e-learning software. The Company will also continue carrying out bespoke web design. However in order to match the cost base with the current order book the business is to be substantially reduced in scale and relocated to more suitable, smaller premises. At the same time agreement has been reached with the landlord of the two Eynsham properties to surrender the leases on terms beneficial to the Company and they will be vacated by 31 March 2002. The slimmed down business will retain the core competencies created over the last three years and is not expected to consume further cash. The Company's cash resources were approximately £1.5 million at 28 February 2002. Over the last six months the Directors have reviewed a considerable number of acquisition opportunities including several outside of the Company's core business. Most of these have not met the Company's acquisition criteria of having proven growth potential. However several are still under active review and we are confident that we will be able to make a further announcement within the next few weeks. The preliminary results for the year to 28 February 2002 will be announced on 10 May. For further information: RMR Michael Mills Chairman 020 7612 8913 Weber Shandwick Square Mile John Wade 020 7950 2800 This information is provided by RNS The company news service from the London Stock Exchange
1 Year Rome Resources Chart |
1 Month Rome Resources Chart |
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