Angoss finalizes share consolidation terms; Provides preliminary overview of FY 2007 results



    TORONTO, Dec. 11 /CNW/ - Angoss Software Corporation (Angoss) (TSX-V:
ANC) today confirmed particulars of its previously proposed consolidation of
its common shares (Share Consolidation Plan), and provided a preliminary
overview of fourth quarter and annual billed and earned revenues and operating
profit results for the fiscal year ended November 30, 2007.

    Share Consolidation Plan

    The Company has approved and is distributing the management information
circular for its proposed Share Consolidation Plan. A special meeting of
shareholders to review and consider the Share Consolidation Plan is scheduled
for January 3, 2008.
    Subject to receipt of shareholder and stock exchange approvals, Angoss
proposes to implement a consolidation of its common shares, resulting in the
cancellation of up to a maximum of approximately 6,000,000 common shares, and
a corresponding reduction of up to approximately 80% in the number of current
Angoss shareholder accounts.
    Angoss currently has outstanding approximately 40,218,000 common shares.
Based on current data, approximately 5,500,000 or 13% of these shares are held
by an estimated 3,400 shareholder accounts, representing an average of
approximately 1,620 common shares per holder. Among these shareholders,
holdings range from 1 to 10,000 common shares.
    The basis of consolidation proposed will be approximately 7,500 common
shares for 1 common share, followed immediately by the deconsolidation of the
consolidated shares on the basis of 1,500 new common shares for each share
then held to meet minimum distribution and other requirements of the Exchange.
It is expected that approximately 7,000,000 common shares will be outstanding
after giving effect to the Share Consolidation Plan. Based on the Company's
current market capitalization, this would imply a post consolidation opening
trading price in the range of $1.02 per post-consolidation common share.
    If approved by shareholders and The Toronto Venture Exchange (Exchange),
the share consolidation will be effective as of January 12, 2008, at which
time final share consolidation information will be provided.
    On such basis, holders of less then 7,500 shares as of close of the
markets on January 11, 2008 will receive cash based on a price of $0.18 per
common share and their common shares will be cancelled. The consolidation is
expected to cost approximately $1 million, inclusive of meeting, advisory and
transaction costs. No assurance can be given that the Shareholder
Consolidation Plan will be approved by shareholders or the Exchange on the
terms proposed or at all.
    Under the proposal, the Company will also reserve the right to terminate
the Share Consolidation in the event the Share Consolidation Proposal is not
approved on the terms proposed, or for any other reason, up to the time of
filing the articles of amendment giving effect to the Share Consolidation
Plan.

    Fourth Quarter and Fiscal 2007 Results Overview

    Angoss billed revenues for the fourth quarter ended November 30, 2007
will be in the range of $2.6 million, with year over year growth in both
earned revenues and operating earnings.
    Billed revenues for the fiscal year ended November 30, 2007 will be in
excess of $8 million, up from $7.3 million in 2006. Earned revenues and
operating earnings are expected to be approximately $7.3 million and
approximately $800,000, respectively, up from corresponding fiscal 2006
results of approximately $6.8 million and $680,000 respectively.
    Top line revenue results reflect expansion of existing customer
relationships, and the addition of new customers, partially offset by a
challenging foreign exchange market. US Dollar denominated revenues were
impacted by a 15% decline in the value of the US Dollar over the year, with
high volatility during the fourth quarter.
    Revenue growth has been driven primarily by additional sales of
KnowledgeSEEKER(R), KnowledgeSTUDIO(R) and StrategyBUILDER(TM) to leading
financial services, telecom and fund industry organizations in North America,
Europe and India, as well as expanded deployments of the company's on demand
predictive analytics solutions for marketing, sales and risk in the financial
services and ICT industries. During the fourth quarter the company expanded
existing and added new client deployments of the FundGUARD(TM), marketing and
sales targeting system for the mutual fund industry, and extended deployment
of the company's ClaimGUARD(TM), claims lifecycle analytics solution for the
group benefits insurance industry.
    The company also extended its technology platform supporting both
software licensing and on demand predictive analytics subscriptions
businesses, with the release of Version 6.0 of KnowledgeSEEKER(R),
KnowledgeSTUDIO(R) and StrategyBUILDER(TM) incorporating significant new
features for the retail and small business banking industry, and the
introduction to charter clients, on a technology preview basis, of the Angoss
on demand predictive analytics portal configured for FundGUARD(TM) users.
KnowledgeSEEKER(R) for Salesforce.com, ClaimGUARD(TM) and Telecom Marketing
Analytics(TM) configurations of the company's on demand predictive analytics
subscription offerings are planned for the first half of fiscal 2008.

    Ken Ono Retires from Angoss

    Effective November 30, 2007 Ken Ono, the CTO and VP of Research and
Development has resigned from Angoss. Ken played an important role in
progressively senior roles with Angoss over a period of 20 years, particularly
in the development of the KnowledgeSTUDIO(R) data mining software suite,
innovations in and extensions of the Angoss data mining platform, and in more
recent years, in a client facing sales, product management and strategic
business development role for financial industry clients. "On behalf of all of
our shareholders and employees, I would like to acknowledge the long standing
role and important contribution of Ken Ono to the growth of Angoss and wish
him well in his new ventures" commented Angoss President Eric Apps.

    Angoss Software empowers people to make "Better Business Decisions. Every
Day."(TM)
    Some of the world's leading financial services, telecom, life sciences,
and retail organizations use Angoss predictive analytics software and services
to grow revenues, while reducing risk and cost. Angoss helps our clients
utilize business data to discover the key drivers of behavior, predict future
trends and events, and act with confidence when making business decisions.
    Angoss combines powerful market proven software with focused industry
services expertise in the deployment, integration and use of predictive
analytics in enterprise environments. Our differentiators include broad user
acceptance, a commitment to open standards, rich functionality, rapid
deployment, exceptional ease-of-use and affordability.
    Headquartered in Toronto Canada, Angoss has offices in the UK and
Australia and partners with the world's leading enterprise software and
services vendors. For more information, visit www.angoss.com.

    This press release contains statements of a forward-looking nature. These
statements are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. The accuracy of these statements may
be impacted by a number of business risks and uncertainties that could cause
actual results to differ materially from those projected or anticipated,
including: the risk that the sale of our products and services involves a long
sales cycle; the risk that the economic environment and business conditions
will remain difficult to predict; the risk of competition in our target
markets; the risk that we may not respond adequately to evolving technologies;
the risk that we or our customers may have difficulties in introducing our
products or services; the risk that we will encounter difficulties in
continuing to offer services; the risk that we will encounter difficulties in
integrating the operations of acquired companies with our own; the risks of
conducting our operations in a variety of international locations; the risk
that we may need to record future write-downs of assets arising from our
investments in other companies; the risks relating to the costs that we may
incur as a result of litigation against us; and other risks described in our
filings with securities regulatory authorities, including our annual reports,
interim financial statements and similar disclosure documents. Angoss Software
does not undertake any obligation to update this forward-looking information
after the date of its initial publication, except as required under applicable
law.

    Note: The Toronto Venture Exchange has neither approved nor disapproved
    the above information.




For further information:

For further information: Lon Vining, Chief Financial Officer, (416)
593-2420, lvining@angoss.com

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Angoss Software Corporation

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