IMTE I-Mate

    RNS Number : 0826G
  i-mate plc
  17 October 2008
   

 For Immediate Release   17 October 2008

    i-mate plc

    Trading update for the six months 
    ended 30 September 2008

    i-mate plc (London AIM:IMTE), the specialist in Microsoft Windows Mobile� devices and software, today announces a trading update for the
six months ending 30th September 2008.

    Sales for the six-month ended of September are estimated at $20.6 Million compared to $46.2 Million for the same time last year. This
resulted in an estimated operating loss of $10.8 Million loss compared to $29.4 Million loss for the same time last year. Our cash position
is at $11.2 Million and stock at $9.1 Million with debtors of $3.9 Million and creditors of $2.6 Million.

    As stated in the year end results on 29 September the last 2 months have seen global handheld sales drop considerably and this trend is
looking set to continue. We also outlined that we were considering delisting i-mate.

    We have subsequently decided that, pursuant to a request for a resolution to de-list the company to be placed before the company in
general meeting, that following the conclusion of the Company's Annual General Meeting scheduled to be held on 10 November 2008, an
Extra-ordinary General Meeting will be held at which time such a resolution will be put to the members.

    If the resolution is passed the Company's non-executive chairman, Bernard Cragg and non-executive director, Bill Gorjance, will resign
and Jim Morrison will take on the role of Chairman and Chief Executive Officer.



    Jim Morrison, Chief Executive Officer of i-mate commented:

    "It was made quite clear at the time of our preliminary results last month that the economics and business benefits of being a quoted
Company were becoming increasing unclear. Our business and indeed the market continue to weaken as global consumer confidence slides. I
fully expect i-mate to be a private company within 60 days."


    For further information please contact:

 i-mate plc
 Jim Morrison             Tel: 00 971 4360 1989

 JP Morgan Cazenove
 Nick Garrett             Tel: 020 7588 2828

 Buchanan Communications
 Jeremy Garcia               Tel: 020 7466 5000



This information is provided by RNS
The company news service from the London Stock Exchange
 
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