Trading update and Approach

RNS Number:6729L
CODA plc
14 January 2008



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA OR JAPAN


CODA plc


Year End Trading Update

CODA plc, the finance systems specialist quoted on the Alternative Investment
Market (AIM; stock code: CODA), is today providing an update on its performance
following the end of its financial year on 31 December 2007.

CODA plc is pleased to report that earnings (before interest and taxation) for
the year ended 31 December 2007 are expected to be ahead of management's
expectations.   Revenues for the period are expected to be slightly ahead of
management's expectations. Cash flows have been strong throughout the period
with a cash balance of approximately �12.8m as at the balance sheet date (31st
December 2006 �1.8m).

Recent contract wins demonstrate continued success of the product range across
CODA's territories and the rollout of our software across Caterpillar's
dealership network has continued.  A number of the dealers have now signed
additional contracts for our procurement suite, including Unatrac International,
 which has dealerships in nine countries.  In the UK there were notable
successes for our CODA2count and CODA2know product streams, with CODA
Financials, Dream and our analytical offerings all contributing.  Recent wins in
the UK include sales to BAE Systems Surface Fleet Solutions and Equity Trust.
Sales of the process control stream CODA2control also gained momentum, with
notable wins in the financial services and public sectors in The Netherlands.

The Business Collaborator Division continued to perform well during the period,
securing contracts recently at EDF Energy and The Bowen Group.  SEDEX continued
to attract new members throughout the period.

Strategically, in 2008 we shall proceed with the development and distribution of
our Software as a Service offering, CODA2go. We announced our intentions in
September to work alongside salesforce.com in this area and since then have
progressed well with our product development.  During the next twelve months we
shall invest in our distribution capability.  The nature of this market means
that a return on such investment should be achieved over a 3 to 4 year horizon.

The outlook for 2008 remains positive.  Pipelines are strong for all product
streams.  They show a healthy mix of higher value prospects, which typically
have a longer sales cycle and lower value opportunities which have shorter sales
cycles.

The combination of this positive outlook and the investment in CODA2Go means
that, at this early stage of the year, our expected earnings for 2008 (before
interest and taxation) remain in line with current management expectations.

Subject to the Approach referred to below the Preliminary Results for the year
ended 31 December 2007 will be announced on Thursday 13 March 2008.  The Report
and Accounts for 2007 will be audited by PricewaterhouseCoopers, following their
recent appointment.


Announcement of Approach

Coda plc ("CODA" or the "Company") announces that on 18 December 2007 it
received an indicative approach from Unit 4 Agresso N.V. ("Unit 4 Agresso") at
205p per ordinary share in cash for the entire issued and to be issued ordinary
share capital of CODA (the "Approach").  The Approach is subject to a number of
pre-conditions including the satisfactory completion of due diligence and
financing.

The Board of CODA considered the Approach and concluded that a limited due
diligence exercise should proceed.  This exercise is at an advanced stage.
There is no guarantee of any offer being made for the Company. Were such an
offer to be made it is expected to be funded by Unit 4 Agresso's existing cash
balances and debt finance.

Together, CODA and Unit 4 Agresso would create one of Europe's top ten business
software vendors*, with turnover in excess of Euro300m (based on 2006 published
figures) and operations in nineteen countries.

This announcement is made with the consent of Unit 4 Agresso.  A further update
is expected before the end of January 2008.

In accordance with Rule 2.10 of the Takeover Code, the Company confirms that it
has 76,973,727 ordinary shares of 25p each in issue and is admitted to trading
on the AIM Market of the London Stock Exchange under the ISIN code GB00B18FC419.


Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any
person is, or becomes, "interested" (directly or indirectly) in 1% or more of
any class of "relevant securities" of the Company, all "dealings" in any "
relevant securities" of the Company (including by means of an option in respect
of, or a derivative referenced to, any such "relevant securities") must be
publicly disclosed by no later than 3.30 pm (London time) on the London business
day following the date of the relevant transaction. This requirement will
continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the "offer period" otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an "
interest" in "relevant securities" of the Company, they will be deemed to be a
single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of the offeree company by the offeror or the offeree company, or by
any of their respective "associates", must be disclosed by no later than 12.00
noon (London time) on the London business day following the date of the relevant
transaction.

A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.

"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.


* Statement derived from figures based on revenues from software activities as
shown by the Truffle 100 ranking of European Software Vendors in November 2007.


For further information please contact:

Graham Steinsberg, Executive Chairman                            01249 467 302
Simon Bridges, Landsbanki                                        0207 426 9000
Chelsea Hayes, Pelham                                            0207 743 6675



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            The company news service from the London Stock Exchange
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