RM PLC

Pre-Annual General Meeting Information • Mar 25, 2015

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RNS Number : 2783I

RM PLC

25 March 2015

25 March 2015

RM plc

Annual General Meeting Statement

At the AGM of RM plc, the educational IT and resources group ("RM" or "the Group"), to be held today at 11.30am, John Poulter, Non-Executive Chairman, will make the following statement:

"Trading in the first quarter has been in line with the Board's expectations.

In February, following successful pilots, RM Results signed a 3 year contract to provide the education charity AQA with e-marking services.

In March terms were agreed with South Oxfordshire District Council to sub-let one of the Group's buildings in Abingdon, which was surplus to the Group's requirements following recent reorganisations.  This is expected to reduce the onerous lease provision held on the balance sheet by approximately £2.4m.

Cash and short-term deposits as at 28 February were £40.5m.

In the light of the good performance of the business in 2014, the Board is recommending a final dividend of 3.04 pence per share which would constitute, at 4.00 pence in total, an increase of 21% over the prior year (excluding the special dividend paid in 2013).

As previously announced, the Board will adopt a progressive dividend policy with the objective over the medium term of moving to a more appropriate level of dividend cover of between 2 to 3 times.

The Board is mindful of the need for capital discipline and is committed to maintaining an efficient balance sheet over the medium term, taking into account the business's performance and its likely development and investment needs."

Contacts:

RM plc                                                                         08450 700300

David Brooks, Chief Executive Officer

Iain McIntosh, Chief Financial Officer

Greg Davidson, Company Secretary

FTI Consulting                                                             020 3727 1000

Chris Lane / Danny Wong

The RM plc group comprises the following divisions:

RM Resources

This division comprises two operating businesses: TTS and SpaceKraft. TTS provides a wide range of resources for use in schools and other educational settings. TTS is a leading provider of physical resources to UK schools, with over 14,000 product lines and an established leadership position in Primary and Early Years age groups. SpaceKraft is a leading provider of resources and immersive environments to meet the specific requirements of learners with Special Educational Needs.

RM Results

Formerly known as Assessment and Data Services, RM Results supplies government ministries, exam boards and professional awarding organisations with technology and expertise to improve efficiency, accuracy and clarity in the assessment cycle, both in the UK and internationally. This includes the systems required to provide the 'league tables' for English schools.

RM Results is a business that provides products and services that include secure, innovative systems for creating high-stakes exams and tests, onscreen testing, onscreen marking and the management and analysis of educational data.

RM Education

Formerly known as Education Technology, the division provides technology-based software and services, specifically designed for UK schools and other educational establishments, across the following categories:

·      Services: Outsourcing, support and implementation services, including managed services, onsite support, telephone support and consultancy services.

·      Digital Platforms & Content: Access to curriculum resources and school management solutions, including RM Integris school management systems, RM Unify 'launchpad to the cloud', RM Books e-book system, RM Easimaths and RM Easiteach.

·      Infrastructure Solutions: Network software, tools and infrastructure services, such as the Community Connect network and device management tools and virtualisation.

·      Internet: The provision of broadband and e-safety solutions.

This information is provided by RNS

The company news service from the London Stock Exchange

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