CODA Completes Demerger from CODASciSys plc

Harrogate, United Kingdom, September 29, 2006 --(PR.com)-- CODA plc, the finance systems specialist, today completed its demerger from CODASciSys and successfully listed independently on the London AIM market.

All of the conditions to the demerger of the CODA and Business Collaborator divisions of CODASciSys plc and to their transfer to CODA plc have now been completed. The new ordinary shares in CODA plc were admitted to trading on AIM at 8.00a.m. this morning. 

The new board of CODA plc consists of:
• Graham Steinsberg, Chairman
• Jeremy Roche, Chief Executive Officer
• Cliff Preddy, Senior Non-Executive Director
• Mark Wells. Non-Executive Director
• Michael Greig, Non-Executive Director
• Bryan Hucker, Finance Director

To mark its independence, CODA has launched a new investor resources section of its web site that will carry a range of useful resources for existing and potential investors interested in CODA. For more information visit the new investors section at www.coda.com/investors. 

ABOUT CODA 

CODA creates, markets and implements a complete range of software systems designed specifically to meet the needs of Financial Directors and Finance Departments. These include financial management systems, analysis applications, and business process management and control software to implement compliance solutions. Its service oriented architecture also makes CODA software easy for clients and other vendors to integrate it with their business applications.

CODA was founded in 1979, has around 550 employees working from 13 global locations, and is listed on AIM in London under the ticker “CODA”. CODA software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations, and is used by around 2,600 medium and large organizations in over 100 countries in a variety of markets and within both public and commercial sectors.

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