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Digital Learning Marketplace p (ARGP)

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Thursday 09 August, 2012

Digital Learning Marketplace p

Digital Learning Marketplace plc : Refocusing b...

Digital Learning Marketplace plc : Refocusing business, cost reduction and director change

Digital Learning Marketplace plc
(DLM or the Company)

Refocusing business, cost reduction and director change

As previously reported Digital Learning Marketplace plc ("the Company") was pursuing a "buy and build" strategy which was predicated upon its ability to raise significant funds for acquisitions.  Given its inability to raise these funds in the current market environment, the Directors decided that the Company strategy will be revised, to consolidate its more traditional revenue streams and to operate at a reduced working capital requirement level. In light of these changes Andy Hasoon has decided to resign his position as CEO and Director of DLM Plc (and associated group entities) to pursue other business interests.  He remains an advisor to the Company in a consulting capacity.

There has been a material reduction in other overheads which are now less than £150,000 per month and based on actual and expected orders the directors believe the Company will be profitable in the current quarter.

For further information:

Digital Learning Marketplace Plc                    Tel: 020 7408 4720
Angus Forrest

Beaumont Cornish Limited (NOMAD)            Tel: 020 7628 3396
Roland Cornish

Northland Capital Partners Limited (Broker)  Tel: 020 7796 8800
Katie Shelton / Tim Metcalfe

Rivington Street Corporate Finance               Tel: 020 7562 3357
Peter Greensmith / Jon Levinson

Leander (Financial PR)                                    Tel: 07795 168157
Christian Taylor-Wilkinson


About DLM
Digital Learning Marketplace plc is a London Stock Exchange AIM listed holding company run by a team of energetic and experienced learning professionals who share two simple but ambitious goals: to shape the future of management training and to transform the corporate learning industry.

DLM is building the next generation of innovative digital learning products - products that will bring about a step-change in the way organisations and individuals learn, develop and improve; and DLM has embarked on an aggressive but selective programme of mergers and acquisitions to consolidate what is a very fragmented market.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Digital Learning Marketplace plc via Thomson Reuters ONE


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