ImJack: Government Withdraws 2009/2010 Redesignation Funding

LONDON (Dow Jones)--ImJack PLC (IMJ.LN), said Thursday, it has been informed by SSAT that the new coalition government has withdrawn funding in respect of schools applying for redesignation funding for the year 2009/2010. MAIN FACTS: -This eventuality was entirely unforeseen by the company and no indication had been given at any stage by the Specialist Schools and Academies Trust or SSAT that such funding might be withdrawn. -The company maintains a strong relationship with the SSAT who are now working closely with the Company to find alternative sources of funding to replace this programme and further announcements will be made as appropriate. -The Company announced on May. 20, that it had secured approval for all schools applying for redesignation to be offered the ImJack platform. Shares on Thursday traded at 0.88 pence. -By Razak Musah Baba, Dow Jones Newswires; +44-20-7842-9275; razak.baba@dowjones.com (END) Dow Jones Newswires June 10, 2010 12:06 ET (16:06 GMT)