InterX PLC
6 April 2000
INTERX PLC
('InterX', the 'Company' or the 'Group')
OUTCOME OF EXTRAORDINARY GENERAL MEETING
AND EGM STATEMENT
The Board of InterX is pleased to announce that, at the Extraordinary
General Meeting held today, all the resolutions proposed in the circular
to Shareholders dated 10 March 2000, (the 'Circular'), were approved.
Upon listing of the Company's new ordinary shares on the London Stock
Exchange, which is expected to take place tomorrow, InterX will have
successfully completed its £54 million fundraising.
At the Extraordinary General Meeting, Richard Jewson, Chairman, made the
following statement:
'I am delighted to report that InterX has made significant progress
towards achieving its initial commercial objectives for Cromwell Media
Limited ('Cromwell'), as detailed in the Circular.
The growth of Cromwell is not constrained by demand and consequently the
key commercial objective is to increase the delivery capability of the
business through:
* the recruitment of high quality management and staff;
* the recruitment of a suitable network of qualified System
Integrators;
* the development of training programmes to ensure the prompt
revenue-earning effectiveness of new employees and system integrator
partners; and
* the development of key technology partnerships to broaden
Cromwell's technical offerings.
I am confident in the ability of Cromwell's management to position the
company for exceptional growth. Since the publication of the Circular
the following has been achieved:
Key appointments
Derek Austin has joined Cromwell as Vice President of Engineering.
Previously, he was Development Director for Oracle Corporation's Energy
Upstream applications in the US. He has 12 years' experience in highly
technical roles and a proven track record in software manufacturing.
David Blackwood has joined as Director of Partner Services. David has
been involved in information technology for 15 years. For the last 12
months he has been an Executive Consultant with Gemini Consulting, part
of the Cap Gemini Group. Prior to that he spent four years at Oracle
UK, where he held a number of positions, most recently as Head of
Practice for the Business Consulting and Change Management Group.
Integrator partnerships
Cromwell is developing a leveraged product sales model, which will
increase the speed to market of BladeRunner technology. Cromwell has
entered into partnership arrangements with two leading UK e-business
solutions companies.
Training programmes
FastTrax1, an intensive 10 day BladeRunner training course, has been
developed. The first programme, to be attended by both our internal
recruits and technical consultants from our integration partners, is
scheduled to commence on Monday.
Technology Partnerships
Cromwell has entered into a partnership arrangement with Net
Perceptions, Inc. (www.netperceptions.com), a leading provider of
personalisation technology. This allows for its technology, which
includes pattern matching and real time profiling, to be incorporated
into BladeRunner solutions.
To have achieved the above in such a short space of time is a further
endorsement of Cromwell's technology and management.
Other Developments
In the Circular I also indicated to Shareholders that we expected to be
in advanced negotiations with a purchaser for Ideal Hardware plc, our IT
distribution business, by the time of today's Extraordinary General
Meeting. I am pleased to report that we have now entered into a period
of exclusivity with a potential purchaser and I hope to be able to
report further progress in due course.'
Enquiries:
InterX plc 020 7887 1403
James Wickes, Chief Executive jwickes@interx.co.uk
Simon Barker, Commercial Director sbarker@interx.co.uk
Simon Miesegaes, Finance Director smiesegaes@interx.co.uk
Charterhouse Securities 020 7248 4000
Colin La Fontaine Jackson clafj@charterhouse.co.uk
College Hill Associates 020 7457 2020
Nicola Weiner nicola@collegehill.com
Mary Matthewson mary@collegehill.com
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