Trading Update

RNS Number : 9680U

Totally PLC

07 January 2013

 



Totally Plc ("Totally" or "the Company")

Trading update

Totally PLC announces a post year end trading update as an adjunct to the interim statement that was released in September 2012.

As previously announced, Totally has built upon its strategic change of direction by selling the publishing business, the JN Media Group, and concentrating its focus on digital solutions for the management of long-term health conditions.  Clare Wexler , who was appointed CEO of Totally on 15 May 2012, has re-organised the senior management team and a new Finance Director, Don Baladasan, was appointed on 28 November 2012, having had a consultancy role since June 2012. The board of Totally believes that Don has the requisite experience and capabilities to play a key part in driving the Company through its expected growth phase. Experienced staff for the Company's principal operating subsidiary, Totally Health, have been appointed and are being led by its Managing Director, Wendy Lawrence.

In the past year Totally Health has been awarded two NHS Contracts, the Shared Decision Making (SDM) contract plus a 12-month long long-term condition contract for Chronic Obstructive Pulmonary Disease in Leicester. The Company is delivering well on both these contracts and is on target to receive another third of the total SDM contract revenue over the next few months. A dedicated bid team has been established and the Company now has around 15 tenders in process, at contract values of between £2 million and £10 million.

In December 2012, Totally PLC engaged Optiva Securities plc, to arrange the purchase and subsequent exercise of 113,676,681 warrants over new ordinary shares of 1p each held by existing shareholders. Fifty per cent. of the proceeds of this transaction, totalling £568,383.41, were received by the Company in December 2012 and have been used both to pay down the residual debt and to provide working capital to fund the business going forward. The remaining 50 per cent. of the warrant exercise proceeds are expected to be received on 15 January 2013 and the resultant strengthened balance sheet will be used to fund expected further growth.

7 January 2013

For further information please contact:

Totally Plc	Tel: [phone]
Clare Wexler / Don Baladasan
Allenby Capital Limited (Nominated Adviser & Broker)	Tel: [phone]
Mark Connelly / Nick Athanas

 

END

 

 

MSCLDLFBXFFEBBX