8 Jul 2011 07:00
8 July 2011FOR IMMEDIATE RELEASE GEONG International Limited ("GEONG" or the "Company") Notice of results
GEONG International Limited (AIM:GNG), a leading internet software solutions provider and operator for large enterprises in China, announced on 20 May 2011, that it would be announcing the preliminary results for the year ended 31 March 2011 on 12 July 2011.
The Company subsequently commenced discussions, which are now at an advanced stage, with the board of a privately-owned company ("Target") in connection with a possible acquisition. Consequently, it has become necessary to delay the release of the Company's preliminary results to mid August. As previously stated in the announcement dated 20 May 2011, the Board expects to report a net profit after tax (subject to audit), ahead of market expectations in the full year results.
Whilst the Target meets the Company's strategic acquisition criteria, including being profitable and cash generative, it is emphasised that these parties are still in talks and accordingly there is no certainty that an acquisition will be made by the Company. If an acquisition were to be made, it is expected to constitute a substantial transaction, but not a reverse takeover pursuant to the AIM Rules for Companies.
A further announcement will be made when appropriate.
For further information, please contact:
GEONG International Limited www.geong.com Tel: +86 10 5222 0999Henry Tse, ChairmanWeidong Wang, CEOAmit Thakar, CFOEvolution Securities Limited Tel: +44 20 7071 4300
(Nominated Adviser and Joint Broker)
Tim Worlledge Esther Lee
About GEONG International Limited
Operational since 2000, GEONG specialises in collaboration and content management software and services. Its products are specifically tailored for the Chinese market, where the Company is recognised by Government agencies and numerous blue chip clients as a leader in its field. GEONG was named The Most Successful Enterprise in ECM Software in China 2007 to 2008 by China's Centre for Information Industry Development and CCID Consulting; and one of the fastest growing companies in Asia at the Deloitte Technology Fast 50 China and Deloitte Technology Fast 500 Asia Pacific awards. The Company has recently expanded into North America setting up operations in Canada.
Registered in Jersey, the Company's operations are headquartered in Beijing. The Company's shares were admitted to AIM in June 2006 and trade under the ticker GNG.L
For more information, please visit www.geong.com
XLON