K3 Business Technology Group Regulatory News (KBT)

29 Dec 2009 07:30

29 December 2009

AIM: KBT

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Company")

Change of Year End to 30 June

K3 Business Technology Group plc, which supplies, installs and supports Microsoft-based Enterprise Resource Planning software to the supply chain industry, announces that its financial year end will be changing from 31 December to 30 June. The current financial year will therefore cover the 18 month period ending 30 June 2010. The change of year end aligns K3's year end to the financial year end of Microsoft Corporation, with whom K3 has a strong trading relationship as its largest Dynamics partner in the UK. In addition, it will provide shareholders with greater visibility on the year end results since K3 typically achieves the greater proportion of its revenue in the latter half of the calendar year. 

The Company will announce unaudited interim results, covering the 12 month period to 31 December 2009, in March 2010 and audited results, for the 18 month period ending 30 June 2010, in September 2010. The Directors will consider the payment of a proportion of the annual dividend as an interim dividend in May 2010, with the remainder paid as a final dividend in November 2010.

The Annual General Meeting will be held in May 2010. A second General Meeting to consider the accounts and to approve the final dividend will be held later in the year. It is expected that the AGM will then be held in November each year from 2011 onwards. 

The Directors remain encouraged by K3's trading performance, including the new orders which have been closed in recent weeks, against a difficult economic backdrop. In line with last year, the Board expects to announce a pre-close trading update towards the end of January 2010.

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