Angle Regulatory News (AGL)

9 May 2008 10:00

Angle PLC09 May 2008 ANGLE plc ('ANGLE' or the 'Company' or the 'Group') Pre-close update 09 May 2008 The Board of ANGLE is pleased to provide the following pre-close update ahead ofits preliminary results for the year ended 30 April 2008. The Company's interim results for the six months ended 31 October 2007,announced on 31 January 2008, illustrated that ANGLE made significant furtherprogress in the first half of the year. The Group moved into profitability forthe period, fair value of the investment portfolio on the balance sheetincreased and the management services business moved back into profitability forthe period. A strong outcome for the year as a whole is now expected with EBITDA beforeexpenditure on controlled investments in line with management expectations. In line with the Group strategy, ongoing investment in portfolio companiescontinues to be controlled with third party investors brought in to manage riskand maximise ANGLE shareholder value. ANGLE's cash position at the year end isnow expected to be substantially ahead of management expectations. The Board believes that there is substantial value to be realised from ANGLE'sportfolio companies. In the last two years, the Group has been able to announcesignificant progress within its portfolio companies at each set of half year andfull year results. The Board once again looks forward to being able to updateshareholders on further developments when the Group announces its 2008preliminary results on 10 July 2008. On 7 April 2008, ANGLE confirmed that it had received an approach which may ormay not lead to an offer being made for the Company. The Board confirms thatdiscussions continue with the party concerned on a non-exclusive basis. Afurther announcement will be made as and when appropriate. Enquiries: ANGLE plc 01483 295830 Andrew Newland, Chief Executive Ian Griffiths, Finance Director Collin Stewart Europe Limited 0207 523 8350 Mark Connelly, Stewart Wallace Scott Harris 0207 653 0030 Stephen Scott, James O'Shaughnessy, Harry Dee Buchanan Communications 0207 466 5000 Richard Darby, Suzanne Brocks, James Strong Notes to Editors Founded 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 quoted 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