29th Nov 2005 09:04
Trakm8 Holdings PLC29 November 2005 Embargoed until 9.00 29 November 2005 TRAKM8 HOLDINGS PLC ("Trakm8" or "The Group") FIRST DAY OF DEALINGS Trakm8, a designer and developer of licensed GPRS based hardware and softwarefor the vehicle placement and security market, has today been admitted totrading on AIM under the symbol TRAK. The Group has 11,026,000 million Ordinary Shares in issue at a listing price of100 pence per share and on Admission will have an anticipated marketcapitalisation of £11.0 million. The Group supplies its licensed GPRS ("General Packet Radio Service") based GPSvehicle placement hardware, enabling software and information managementplatforms for the end user through selected distribution partners, includingdirectly to two subsidiaries of FTSE 100 companies. The Directors believe the Group has an innovative business model. Instead ofbeing a fully integrated developer, manufacturer, distributor and maintainer ofits equipment, Trakm8 focuses on the key activity areas it believes make itsproducts attractive to the end users, and where it believes the financialreturns are greatest - these being the development of the control softwareinside the electronic boxes and the software used to track the vehicles. Cary Knapton, CEO of Trakm8, commented: "Our listing on AIM will help to raisethe Group's profile within the market and create further opportunities for ourexisting and future products. "The Group's hardware and software products enable it to supply into multiplepotential markets within a fragmented industry. In addition to the Group'sexisting markets, a number of additional industry trends are emerging from whichwe believe the Group is well positioned to benefit, including pay-as-you-driveinsurance, personal security and road tolling. We believe that ourdifferentiated business model allows us to occupy an important gap in thevehicle placement industry and we view the future prospects of the Group withsome confidence." -ends- For further information please contact: Trakm8 Holdings plc 01747 858 444Cary Knapton, Chief Executive OfficerTim Couling, Finance Director Tavistock Communications 020 7920 3150Simon HudsonChristian Taylor-Wilkinson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Trakm8 Hldgs