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Intellego (ARGP)

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Thursday 13 May, 2010


Trading and corporate update

13 May 2010

Intellego Holdings plc

Trading and corporate update

The directors today update the market as follows: the year to 31 March 2010
finished with sales of £2.0 million and in line with the trading update of 20
January 2010 sales recovered in the second half.

The business has seen significant changes over the past six months with a new
team of executive directors who have made extensive changes to all aspects of
the operations.  These include the creation and introduction of new products
incorporating Intellego's IP and the disposal of the EKP distribution business
announced on 28 April 2010.

A plan to significantly reduce overheads has been put into effect and should in
a full year achieve net savings of c. £300,000 pa.

Over the past two years the main operating company, Intellego Group Limited, has
accumulated a backlog of liabilities, including loans, totalling c. £1 million.
  After taking professional advice the directors have decided to implement a
company voluntary arrangement for Intellego Group Limited.  Antony Batty &
Company LLP has been appointed as nominee and will circularise creditors today.
 The effect of the company voluntary arrangement will be to formalise
arrangements to satisfy those liabilities for c. £400,000 payable over five
years, as this offers the best return for creditors and shareholders.

The directors believe that having taken these steps the Company should be able
to trade profitably for the future.

Angus Forrest commented "The business has undergone transformational change over
the past six months and is set to grow organically with improving financial
performance. As evidence of the opportunity we are in contract negotiations with
several multinational organisations.  As we gain financial strength we plan to
make focussed acquisitions to grow our capabilities in our chosen market
verticals  of healthcare, retail and financial services."

For further information:

Intellego Holdings plc

Angus Forrest / John Hammond

Tel: 0845 058 3960

Beaumont Cornish Limited

Roland Cornish

Tel: 020 7628 3396


About Intellego

Intellego   is   a  consultative  business  specialising  in  the  provision  of
productivity  improvement,  compliance  and  process  change  using  training to
provide  the  solutions.   The training most  appropriate  may be elearning or
instructor  lead, or blended learning a mix  of the two, to regulated industries
and  distributed workforces. Focus areas include custom e-learning and training
for Retail, Finance, Pharmaceutical, and Healthcare Industries.




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