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AGM Statement

26 Sep 2013 07:00

GEONG INTERNATIONAL LIMITED - AGM Statement

GEONG INTERNATIONAL LIMITED - AGM Statement

PR Newswire

London, September 25

26 September 2013 GEONG International Limited ("GEONG" or "the Company") AGM Statement At the AGM of GEONG International Limited (AIM: GNG), the AIM listed, Chinabased provider of enterprise content management ("ECM") software and solutions,to be held this morning, Henry Tse, Chairman of the Company, will make thefollowing statement: Since the completion of the financial year ended 31 March 2013, we havecontinued to focus on winning SaaS business. Since the start of the year wehave gained two new SaaS clients in the second tier of the banking sector: Bankof Hubei and Bank of Huaxia. On SaaS business for existing clients, we areproviding solutions for digital marketing, E-commerce and customer experiencemanagement. We see significant opportunities for H2 and hope to announcefurther contracts with our next trading update. We have previously stated our intent to monitor trade receivables carefully andincrease collection. Steady progress has been made with this and we expect thattotal trade receivables and accrued income at 30 September 2013 to be slightlylower than at 31 March 2013. The cash collection for the period from 1 April to30 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 convertibleunsecured loan stock) of £2.9m as at 31 August 2013. The Company will provide a detailed interim trading update in early Novemberand expects to announce interim results for the six months ending 30 September2013 in mid-December 2013, which we expect to be in line with our expectations. For further information, please contact: GEONG International Limited www.geong.com Tel: +86 10 8586 9655Henry Tse, ChairmanWeidong Wang, CEODavid Tsui, CFO Financial Adviser and Joint BrokerEvolution Securities China Ltd Tel: +44 (0)20 3362 8882Tim Worlledge Nomad and joint broker finnCap Tel: +44 (0) 20 7220 0500 Stuart Andrews Ben Thompson About GEONG International Limited GEONG is recognised as a leading independent Internet software solutionsprovider and operator for large enterprises in China. Registered in Jersey, the Company's operations are headquartered in Beijing,China. GEONG International Ltd. (GEONG or the Company) has been quoted on theLondon Stock Exchange (LSE AIM: GNG.L) since June 2006. The Company has sincetransformed from an ECM (Enterprise Content Management) software and servicecentric business to an internet business centric company. GEONG is an internet solutions and service software company managed by a worldclass management and professional team who collectively own 26% of thebusiness. The Company's mission is to help its clients to improve theirbusiness efficiency and customer satisfaction through smarter internetapplications.

For more information, please visit www.geong.com

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