TIDMDTE

RNS Number : 8354Y

Datong PLC

28 February 2013

 
 Press Release   28 February 2013

DATONG PLC

("DATONG" or "the Group")

AGM Statement

DATONG PLC (DTE.L), a leading provider of covert intelligence gathering solutions, will be holding its Annual General Meeting at 10:00hrs today, Thursday, 28 February 2013, at the offices of Abchurch Communications, 125 Old Broad Street, London, EC2N 1AR.

At the Annual General Meeting Mark Cook, Chief Executive Officer of DATONG, will provide the following trading update:

"Despite the continuing uncertainty surrounding the possible sequestration process in the US, DATONG's position within the Special Forces sector of the defence and security market has supported a solid performance during the first part of the current financial year in line with management expectations.

"However, as previously highlighted in the 2012 annual results statement, the Board expects the results to be weighted to the second half reflecting the current uncertainties within the US market and the expected delivery timescales of a major contract worth GBP7.5 million to DATONG over two years, as announced on 19 December 2012. This significant contract demonstrates the customers' on-going confidence in DATONG's ability to deliver market leading solutions and underpins strong revenue growth in 2013.

"As announced on 22 February 2013, following an approach by a potential offeror, the Company is conducting a formal sale process through its advisor Cavendish Corporate Finance LLP."

- Ends -

Enquiries:

 
 DATONG PLC                           Tel: +44 (0) 113 239 
                                                      5350 
 Mark Cook, Chief Executive Officer 
  Stephen Ayres, Finance Director

Nominated adviser and broker

 
 Canaccord Genuity               Tel: +44 (0) 207 523 
                                                 8000 
 Simon Bridges / Mark Whitmore

Financial adviser

 
 Cavendish Corporate Finance LLP   Tel: +44 (0) 207 908 
                                                   6000 
 Joe Stelzer / John Farrugia

Media enquiries

 
 Abchurch Communications            Tel: +44 (0) 207 398 
                                                    7710 
 Sarah Hollins / Quincy Allan 
  quincy.allan@abchurch-group.com

Notes to Editors

DATONG PLC provides a range of advanced high performance covert intelligence gathering solutions, supplying defence, homeland security and law enforcement agencies around the world. Intelligence strength continues to play an increasingly central role within governmental agencies and police forces, supporting the fight against terrorism and organised crime.

DATONG is headquartered in Leeds, United Kingdom and employs 85 staff. The Group has a wholly owned subsidiary in the United States, DATONG Electronics Inc., with a sales and service office in Chantilly, Virginia. DATONG's proprietary products (as well as Third Party products) are sold internationally into more than 37 countries using both the Group's direct sales force and a network of independent overseas distributors.

DATONG (DTE.L) listed on the AIM market in London in October 2005 and is included in the FTSE Electronic Equipment sector. Group revenue for the 12 months to 30 September 2012 was GBP9.69 million (2011: GBP11.75 million).

Further information on DATONG PLC can be found at www.datong.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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