Trading Update

 

TIDMTSE 
 
RNS Number : 0053U 
Touchstone Group PLC 
17 June 2009 
 

Touchstone Group plc 
("Touchstone" or the "Group") 
 
 
Preliminary Results Announcement and Proposed AIM Cancellation 
Touchstone Group plc, the AIM-quoted provider of business software solutions and 
consultancy services confirms that Preliminary Results for the 12 months ended 
31 March 2009 will be announced on 8th July 2009. 
 
 
Whilst the Group's preliminary results for the year to 31 March 2009 are still 
subject to the audit process and final sign off, final figures are expected to 
be in-line with market expectations. 
 
 
The Board has been encouraged by a number of new contracts wins in recent months 
and has also been selected as preferred supplier on several significant 
projects. However, whilst certain divisions are experiencing encouraging levels 
of demand, general market conditions are still difficult. The recent 
introduction of a more effective operational structure coupled with a review of 
overheads has ensured that the Group is in better shape and should be ideally 
placed to respond once general market conditions improve. 
 
 
As part of the review of general overheads, the Board has also been considering 
the costs associated with maintaining its public company quotation. 
Historically, the Board has rarely utilised the AIM market for its expansion 
capital and has no plans to do so in the immediate future. The Board has 
therefore concluded that the costs and associated obligations of its AIM 
quotation are a considerable burden and shareholders may be better served if the 
Group cancelled its AIM quotation. 
 
 
The Board can confirm that it is evaluating proposals that will be put to 
shareholders for their approval which will encompass a cancellation of the AIM 
quotation and, depending upon the cash-flow needs of the business, a limited 
share buyback at an appropriate price. Hopefully, this will allow shareholders 
who do not wish to remain shareholders of an unquoted company an opportunity to 
divest all or part of their shareholding. Additionally, the Board is also 
considering establishing a matched bargain facility for those shareholders who 
may wish to dispose of their shareholding in the period following the AIM 
Cancellation. 
 
 
The Board anticipates that it should be in a position to update shareholders on 
both the AIM cancellation and prospective buy-back of shares when the 
preliminary results are announced on 8th July 2009. 
 
Enquiries to: 
Keith Birch, Chief Executive Officer 
Touchstone Group plc020 7121 4700 
 
 
Matt Davis 
Alison Barrow 
Brewin Dolphin (NOMAD)                                                 0845 270 
8600 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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