17th Oct 2006 08:00
Chariot (UK) PLC17 October 2006 For immediate release 17 October 2006 Chariot (UK) plc ("Chariot" or the "Company") Trading update Chariot, the operator of the online charity lottery, monday, is today providingan update on its operations. On 7 September 2006 the Company held its annual general meeting and Peter Jones,Chariot's Chairman, announced that Chariot was building its business following areorganisation and strategic review and that it was making further investment inIT and marketing, in order to: consolidate its existing business; generate newcustomers; and increase ticket sales. The marketing initiatives included theFree £1 million lottery promotion and following the launch of this promotionChariot witnessed an increase in weekly ticket sales. However, these increaseshave not been sustained and ticket sales are currently running below a levelrequired for Chariot to operate at breakeven. The Board of Chariot are currently exploring other ways of increasing weeklyticket sales. At this time there can be no guarantee that these will besuccessful and allow the Company to operate at breakeven or better. In addition the Board has, over the last couple of months, been in discussionwith a number of parties about them acquiring or investing in the Company. Todate these discussions have not been successful. The Board are currently takingappropriate advice and are continuing to investigate all possible options,ranging from a possible fundraising to the appointment, by the Company, of anadministrator. The Board intend to continue to operate the monday lottery and wishes toreassure all its players and registered users that all monies lodged inelectronic wallets and pledged to play in future lotteries remain held in trustand thus remain the property of those individuals. Further announcements will be made in due course. Enquiries: Chariot (UK) plc Stuart Handley 0870 3802121 Communications Director This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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