TIDMLTG

RNS Number : 4300Q

Learning Technologies Group PLC

19 June 2020

Learning Technologies Group plc

("LTG", the "Group")

(AIM: LTG)

AGM statement

LTG, the provider of services and technologies for digital learning and talent management, is pleased to provide the following statement ahead of its Annual General Meeting (AGM) to be held online via video conference at 11am today, 19 June 2020.

Andrew Brode, Chairman of LTG, will make the following remarks at the AGM:

"2019 was an excellent year for LTG, reflecting good organic momentum from cross-selling initiatives and investment in product development. It was particularly pleasing to see our Content & Services business return to organic constant currency growth, as expected. The highly complementary acquisition of Open LMS at the end of March 2020 has added expertise in Moodle, a market-leading Learning Management System, and we now look to further consolidate that market.

In light of COVID-19, we remain focused on the safety and wellbeing of our people and continue to serve our customers during the current market uncertainty.

LTG continues to see demand in line with management expectations. It is in a strong and resilient position and is well-placed to further consolidate the digital learning and talent sector. We thank investors for their support for our recent equity fundraising. This will enable the Group to capitalise on exciting acquisition opportunities as they emerge, as well as to capture the benefits of the acceleration of structural industry trends towards digital learning and talent management whilst maintaining a strong balance sheet. This underpins LTG's ambitious medium-term goal, to achieve c.GBP230 million revenues and c.GBP66 million adjusted EBIT on a run-rate basis by the end of 2022.

Excluding gross placing proceeds of GBP81.8 million received in June, net debt at 31 May 2020 was GBP4.5 million."

The registration link for shareholders to join the virtual AGM can be found here:

https://attendee.gotowebinar.com/register/84915689006595597

Enquiries:

 
 Learning Technologies Group plc 
  Jonathan Satchell, Chief Executive                 +44 (0)20 7402 
  Neil Elton, Chief Financial Officer                 1554 
 Numis Securities Limited (NOMAD and Corporate 
  Broker) 
  Stuart Skinner , Nick Westlake, Ben Stoop, Will    +44 (0)20 7260 
  Baunton                                             1000 
 Goldman Sachs International (Joint Corporate 
  Broker)                                            +44 (0)20 7774 
  Bertie Whitehead, Adam Laikin                                1000 
 
 FTI Consulting (Public Relations Adviser)           +44 (0)20 3727 
  Rob Mindell, Jamie Ricketts, Chris Birt                      1000

About LTG

LTG is a leader in the growing workplace digital learning and talent management market. The Group offers end-to-end learning and talent solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to close the gap between current and future workforce capability.

LTG is listed on the London Stock Exchange's Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, North America and Asia-Pacific.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 19, 2020 02:00 ET (06:00 GMT)

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