Command Technology Group Plc

December 21, 2009 10:52 ET

Trading Update

                                     COMMAND TECHNOLOGY GROUP PLC
                                 ("Command Technology", "the Company")

                                       Trading Update

Ahead of the Company's Extraordinary General Meeting ("EGM") on 30th December 2009, the directors wish
to update shareholders on the current situation of the company and future prospects.

It has been a difficult and turbulent year for CTG and the Company has seen a significant change in
terms of management, operations, strategy and financing.

Preliminary unaudited results for the period to 30 June 2009 reveal a loss (of £197,722, on turnover
of £203,391). Over the last four months significant cost cut opportunities have been identified and
some have already been implemented. The one remaining significant cost is being a listed company.

As previously reported on 28 August 2009, the loan agreement with Schoot, which was intended to
provide a significant level of financing to the Company, has been terminated by Schoot and the Company
has so far only received a small portion of the investment promised. The Company is currently re-
negotiating the termination of the agreement by Schoot. The Directors are also in discussions with a
number of external parties with regard to additional company funding.

A strategic review has highlighted a number of opportunities for new business - one such opportunity
is the growth in streaming TV.  Therefore, Neil Newell, our Technology Director, has spent
considerable time and effort re-focusing CTG's R&D resource. His team is developing a series of new
web based services designed to allow TV, gaming and gambling companies to become web enabled.

The Directors of the Issuer accept responsibility for this announcement.



Command Technology Group Plc
Mick Gossage CEO               Tel: +44 (0)1372 869855

Rivington Street Corporate Finance                Tel: +44 (0)20 7562 3389
Monisha Varadan          Eran Zucker

Contact Information

  • Command Technology Group Plc