10 Jun 2010 16:57
imJack plc
("imJack" or "the Company")
Trading update
The Company announced on 20 May 2010 that it had secured approval for all schools applying for redesignation to be offered the ImJack platform. Each redesignating school taking ImJack's platform was entitled to matched government funding through the Specialist Schools and Academies Trust ("SSAT").
The Company has been informed by the SSAT today that the new coalition government has withdrawn the funding in respect of schools applying for redesignation funding for the year 2009/2010. This eventuality was entirely unforeseen by the Company and no indication had been given at any stage by the SSAT that such funding might be withdrawn.
The Company maintains a strong relationship with the SSAT who are now working closely with the Company to find alternative sources of funding to replace this programme and further announcements will be made as appropriate.
For further information, please contact:
imJack Plc
Michael Abrahams, Chairman Tel: 01653 618 016
Daniel Stewart & Company plc
Emma Earl/Simon Leathers Tel: 020 7776 6550
Rawlings Financial PR Limited
Catriona Valentine Tel: 01653 618 016
IMJ.L (IMJ)