Taken from recent RNS17 Nov 2013 17:32
News this week, already overdue according to the last paragraph ......
AGM Statement
At the AGM of GEONG International Limited (AIM: GNG), the AIM listed, China
based provider of enterprise content management ("ECM") software and solutions,
to be held this morning, Henry Tse, Chairman of the Company, will make the
following statement:
Since the completion of the financial year ended 31 March 2013, we have
continued to focus on winning SaaS business. Since the start of the year we
have gained two new SaaS clients in the second tier of the banking sector: Bank
of Hubei and Bank of Huaxia. On SaaS business for existing clients, we are
providing solutions for digital marketing, E-commerce and customer experience
management. We see significant opportunities for H2 and hope to announce
further contracts with our next trading update.
We have previously stated our intent to monitor trade receivables carefully and
increase collection. Steady progress has been made with this and we expect that
total trade receivables and accrued income at 30 September 2013 to be slightly
lower than at 31 March 2013. The cash collection for the period from 1 April to
30 August 2013 was £3.5m which was in line with our expectation.
The Company had net cash (i.e after taking account of the £1.0 m of convertible
unsecured loan stock) of £2.9m as at 31 August 2013.
The Company will provide a detailed interim trading update in early November
and expects to announce interim results for the six months ending 30 September
2013 in mid-December 2013, which we expect to be in line with our expectations.
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