NextGen Group PLC Update re financial position (6568N)

TIDMNGG

RNS Number : 6568N

NextGen Group PLC

02 October 2012

2 October 2012

NextGen Group plc

("NextGen" or the "Company")

Update re financial position

Further to the announcement made on 27 June 2012, NextGen Group Plc (AIM: NGG) announces that it has to date been unable to secure additional financing for the Company and that efforts to sell the Company's principal subsidiary, NextGen Sciences, Inc., have not yet resulted in any acceptable offers being received.

Unless an acceptable offer is received for NextGen Sciences, Inc. in the very near future, it is likely that the Board will take steps to wind up the Company. Shareholders should be aware that even in the event that NextGen Sciences, Inc. is sold, it is unlikely that it will generate sufficient cash to settle all the Company's outstanding creditors in full.

Further announcements will be made in due course.

ENDS

For further details please contact:

Leif Hamoe

NextGen Group

Tel: +45 4033 4083

Jonathan Wright

Tel: + 44 (0)20 7107 8000

Seymour Pierce Limited

This information is provided by RNS

The company news service from the London Stock Exchange

END