18 May 2017 07:00
Stilo International plc
AGM Statement
Stilo International plc ("Stilo" or the "Company") (AIM:STL) is holding its Annual General Meeting later today. The Company provides software tools and cloud services that help organisations create and process content in XML format, so that it can be more easily stored, managed, re-used, translated and published to multiple print and digital channels.
At the meeting Chairman David Ashman will make the following statement:
"Following the launch of AuthorBridge v2.0 in February 2017, we have been receiving very encouraging feedback from trial users. However, there are still some important aspects of development that need to be undertaken over the coming months and this continues to be a high priority activity for the Company.
As a consequence, AuthorBridge is not expected to contribute significantly to sales revenues in 2017. Rather, our goal in 2017 is to implement AuthorBridge at a number of key customer sites and in so doing, provide a solid foundation upon which we can build future business.
Otherwise, the market for Migrate DITA conversion services and OmniMark software remains steady, and overall Company trading is in line with management expectations.
The Company remains un-geared, and cash balances at 30 April 2017 stood at £1,560,000 (31 December 2016: £1,466,000). Current levels of cash will serve to fund additional development, sales and marketing efforts as we look to grow our portfolio of solutions and enter new market sectors. It will also be used to assist with potential acquisitions, whilst providing an appropriate financial reserve for the business. Ongoing, it is the Board's intention to maintain a progressive dividend policy with scope for special one-off dividends as may be deemed appropriate from time to time.
Subject to approval by shareholders at the meeting, a final dividend for the year ended 31 December 2016 of 0.05 pence per Ordinary Share will be paid on 23 May 2017 to those shareholders on the register at 21 April 2017."
18 May 2017
Enquiries:
Stilo International plc +44 (0)1793 441 444
Leslie Burnham, Chief Executive
Liam O'Donoghue, Company Secretary +44 (0)20 7583 8304
SPARK Advisory Partners +44 (0)203 368 3554
Nominated Adviser
Neil Baldwin
Mark Brady
SI Capital +44 (0)1483 413 500
Broker
Nick Emerson
Andy Thacker