Angle Regulatory News (AGL)

6 Feb 2008 07:01

Angle PLC06 February 2008 For Immediate Release 6 February 2008 ANGLE plc ('ANGLE' or the 'Company') ANGLE selected for Long-term Management Contract with London Development Agency Knowledge Connect Programme ANGLE plc (AIM:AGL), the intellectual property and technology commercialisationcompany, announces that it has been selected as a preferred bidder for a majornew management contract worth £3.7 million over the next three years. ANGLE has been selected by the London Development Agency (LDA), subject tocontract, for the delivery of the Knowledge Connect Programme. The KnowledgeConnect Programme aims to increase the level of business research anddevelopment in London by creating new collaborations between business and theLondon knowledge base, with a focus on enterprises that have not previouslyworked with this sector. This flagship Programme, a core part of the LDA's Knowledge Transfer Strategy,will engage with 1,600 businesses and involve ANGLE working intensively with 265businesses across London. The Programme is being established to raise theperformance and aspirations of London's businesses by providing effectivesupport for research and development, knowledge transfer and innovation acrossthe Capital. ANGLE was selected following a competitive tendering process on the basis of itsexperience in delivering similar business support programmes in London, UK wideand internationally. Additionally ANGLE has developed techniques which, it wasable to demonstrate, have secured successful knowledge transfer from academicand research institutions and have measurable business benefits for a wide rangeof small and medium sized enterprises (SMEs). Andrew Newland, Chief Executive of ANGLE, said: "This represents a major success for our Management services business andunderlines our strategy of focusing on long-term and profitable contracts. Inaddition to generating new revenue for ANGLE it also clearly illustrates theattraction of our business model for SMEs looking to develop and commercialisetheir IP. "We are delighted to have been selected to partner the London Development Agencyin this new project. Our team is looking forward to working with London'sbusinesses to help identify new opportunities and secure business growth throughknowledge transfer and innovation." Garth Selvey, Chairman of ANGLE, added: "This project adds to the strength of our Management services business, whichprovides the platform for ANGLE's ongoing operation. As stated in our InterimResults for the six months ended 31 October 2007 released on 31 January 2008,the Board believes that several of ANGLE's portfolio companies have thepotential to deliver substantial cash returns for shareholders." Enquiries:ANGLE plc +44 (0)1483 295830Andrew Newland, Chief ExecutiveIan Griffiths, Finance Director Buchanan Communications +44 (0)20 7466 5000Richard Darby, Suzanne Brocks, James Strong Notes to EditorsFounded in 1994, ANGLE is an international venture management company focusingon the commercialisation of technology and the development of technology-basedindustry. ANGLE creates, develops and advises technology businesses on its ownbehalf and for its clients. ANGLE is listed on AIM (AGL.L); further informationcan be found on www.ANGLEplc.com This information is provided by RNS The company news service from the London Stock Exchange