18th Aug 2006 07:00
Kenetics Group Limited18 August 2006 For Immediate Release 18 August 2006 Kenetics Group Limited ("Kenetics", the "Group" or the "Company") INTRODUCTION TO TRADING ON THE AIM MARKET OF THE LONDON STOCK EXCHANGE Kenetics who provide customised and bespoke solutions, products and systems tocustomers through a combination of RFID, wireless technologies and IT systems ispleased to announce that its shares will be listing on the AIM market of theLondon Stock Exchange today and trading will begin at 0800hrs under the tickersymbol KEN and with a market capitalisation of £9 million. Kenetics is dedicated to delivering innovative solutions, products and systemsto customers through a combination of RFID, wireless technologies and IT systemsfor diversified applications that include security management, enforcement anddata management. Key Information: • The Group has three main business divisions providing both hardwareand software as a "one-stop solution" for customers, allowing them to identify,track and manage their resources. The divisions are supported by in-houseprototyping, manufacturing and testing facilities. • Since incorporation in 2001 Kenetics has successfully completed morethan seven large-scale projects in different market sectors, including homelandsecurity, law enforcement, healthcare, livestock and library management, inAustralia, China, Singapore and other countries. These customers include largemulti-national semiconductor giants, government agencies and securityorganisations. • Kenetics has been profitable and without debt since 2002. In theyear ended 31 December 2005 the Group achieved turnover of £0.9 million andprofit before tax of £0.3 million. • The Group's admission to AIM will allow access to the UK andEuropean capital markets to enable the Group to fund the further development ofits business. • The Group currently has four main applications for its productswhich have been sold globally. These are: (i.) Kenetics Electronic Livestock Management System fore-farming, addressing the livestock management market needs to implement bettertracking systems. Initially launched in January 2004, now successfully operatingin 11 farms comprising a total of about 50,000 cattle. (ii.) Access Control System, in November 2005 Keneticsdesigned and installed a high volume non-intrusive RFID based access controlsystem in the Beijing Congress Assembly building in the People's Republic ofChina allowing real-time facial recognition. (iii.) Bio-Hazardous Laundry Tagging, prompted by arequirement by the Singapore Contagious Disease Centre to manage itsbio-hazardous laundry Kenetics developed a RFID system for tagging laundry inresponse to growing demand for applications in the healthcare and pharmaceuticalindustries. (iv.) Kenetics Efficient Library System, designed for thelibrary management market allowing self check in/out, efficient shelfmanagement, location of misplaced books and general book theft protection.Installed in the Singapore National Library, British Council in Singapore andcurrently undergoing trials in the British Library in the UK. • Insinger de Beaufort act as Nominated Advisor and Broker to theCompany. Commenting on the Introduction to AIM, Ken Wong Chief Executive of Keneticssaid; "Since founding Kenetics, we have made good progress in expanding our productsin the Asia Pacific regions, in particular Australia, Japan and China. We havealso developed a range of IP Blocks that are now ready for large scaleimplementation in new markets such as Europe and the US. This initialintroduction to AIM will provide us with the quoted currency required to expandthe Group through a combination of strategic joint ventures, acquisitions and byestablishing our own facilities overseas." For further details Kenetics Group Ltd Tel: +65 6749 0083 Ken Wong, Chief Executive Buchanan Communications Tel: +44 (0)20 7466 5000 Tim Thompson / James Strong Insinger de Beaufort Tel: +44 (0)20 7190 7000 Louis Castro / Christopher Caldwell / WilliamLooker Directors, Senior Management and Employees Directors The following are Directors of the Company: Ken Wong Kai En - President & Chief Executive Officer (aged 34) Mr. Wong is the founder of Kenetics. He has been in the smart card and RFIDindustry for more than 10 years, designing a number of smart card and RFIDproducts. In 1995, Ken joined Stoval Chip Cards as an engineer and wasinstrumental in growing the company to more than 100 employees within 3 years.He left Stoval as its General Manager in 1999 and set up AmaTech Singapore. Asthe Managing Director, Ken was exposed to the European and American markets andplayed a key role in the IPO of AmaTech AG. Ken left AmaTech Singapore in 2001to start up Kenetics. Hin Yuen Yeong - Chief Operating Officer & Vice President (aged 59) Mr. Yeong joined Kenetics in 2005. He obtained a Bachelor of MechanicalEngineering from the University of Singapore and a Masters in ProductionEngineering from Aston University in the UK. Mr. Yeong has more than 30 years'experience in a variety of industries and was a member of the Board of theIntellectual Property Office of Singapore and was also a member of the Board ofGovernors of the IP Academy in Singapore. Sidney Seet Tong Song - Chief Financial Officer (aged 62) Mr. Seet joined Kenetics in March 2006. He has held various senior financial andmanagerial positions in private companies in both UK and China. Mr. Seet is anAssociate Member of the Chartered Institute of Management Accountants (UK) and aMember of the Institute of Certified Public Accountants of Singapore. He alsoholds an MBA from Aston University, UK. John Lynton Jones - Non-Executive Director (aged 61) Mr. Jones has an extensive background as the chief executive of severalexchanges in London, including the International Petroleum Exchange, the OMLondon Exchange, Jiway and Nasdaq International (whose operations he set up inEurope in the late 1980s). He also ran public affairs for the London StockExchange at the time of Big Bang. He spent the first 15 years of his career inthe British Diplomatic Service where he became private secretary to a Ministerof State and concluded this stage of his career with responsibility forpromoting financial services at the British Embassy in Paris. He studied at theUniversity of Wales, Aberystwyth, where he took a first class honours inInternational Politics. Mr. Jones spent several years as a board member ofLondon's Futures and Options Association and of the London Clearing House. Heserves on the panel of City experts created by the Corporation of the City ofLondon and is a non-executive director (and former chairman) of the DubaiInternational Financial Exchange. Senior Management and Employees Khiam Beng Ow - Head, Engineering (aged 30) Mr. Ow joined Kenetics when the Company was founded in June 2001. He started hiscareer as a product engineer with Stoval Chip Cards in 1998. He left Stoval in2000 to join AmaTech as a CAD/CAM engineer. Mr. Ow holds a Diploma inElectronics, Computer Communications Engineering. Keh Teng Geok - Head, Systems (aged 28) Mr. Keh graduated from Queensland University of Technology in 2002 with aBachelor degree in Information Technology (Data Communications). He joinedKenetics in 2002 as a software engineer. Over these four years, he has worked onseveral of Kenetics' ODM projects such as KELMS and KELibS. The Company has a total of 25 employees excluding Directors. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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