IDEA.L Regulatory News (IDEA)

29 November 2012

Ideagen plc

("Ideagen" or the "Company")

Trading update

Ideagen, a leading supplier of Compliance based Information Management Software, is pleased to announce a trading update for the six months ending 31 October 2012.

During the period the Company has continued to trade comfortably in line with management expectations. Strong operating cash flow during the period has resulted in net cash at 31 October 2012 of £1.2m after the payment of costs associated with the Company's Admission to AIM and deferred consideration on acquisitions of approximately £0.6m in aggregate.

Since the period end, as anticipated, the United States Department of Veterans Affairs ("the VA") has fully executed year two of its contract with Ideagen. The value of this contract is $1.65m (approximately £1m), of which circa 70 per cent. is expected to be recognised in the current financial year.

David Hornsby, CEO of Ideagen, commented: "I am delighted with the performance for the half year and particularly pleased with the progress being made with the VA despite the current uncertainty regarding the federal budget in the United States. This contract, together with our strong performance in the first half, underpins the Board's confidence for the full year."