First Day of Dealings
Kenetics Group Limited
18 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 to
customers through a combination of RFID, wireless technologies and IT systems is
pleased to announce that its shares will be listing on the AIM market of the
London Stock Exchange today and trading will begin at 0800hrs under the ticker
symbol KEN and with a market capitalisation of £9 million.
Kenetics is dedicated to delivering innovative solutions, products and systems
to customers through a combination of RFID, wireless technologies and IT systems
for diversified applications that include security management, enforcement and
data management.
Key Information:
• The Group has three main business divisions providing both hardware
and software as a 'one-stop solution' for customers, allowing them to identify,
track and manage their resources. The divisions are supported by in-house
prototyping, manufacturing and testing facilities.
• Since incorporation in 2001 Kenetics has successfully completed more
than seven large-scale projects in different market sectors, including homeland
security, law enforcement, healthcare, livestock and library management, in
Australia, China, Singapore and other countries. These customers include large
multi-national semiconductor giants, government agencies and security
organisations.
• Kenetics has been profitable and without debt since 2002. In the
year ended 31 December 2005 the Group achieved turnover of £0.9 million and
profit before tax of £0.3 million.
• The Group's admission to AIM will allow access to the UK and
European capital markets to enable the Group to fund the further development of
its business.
• The Group currently has four main applications for its products
which have been sold globally. These are:
(i.) Kenetics Electronic Livestock Management System for
e-farming, addressing the livestock management market needs to implement better
tracking systems. Initially launched in January 2004, now successfully operating
in 11 farms comprising a total of about 50,000 cattle.
(ii.) Access Control System, in November 2005 Kenetics
designed and installed a high volume non-intrusive RFID based access control
system in the Beijing Congress Assembly building in the People's Republic of
China allowing real-time facial recognition.
(iii.) Bio-Hazardous Laundry Tagging, prompted by a
requirement by the Singapore Contagious Disease Centre to manage its
bio-hazardous laundry Kenetics developed a RFID system for tagging laundry in
response to growing demand for applications in the healthcare and pharmaceutical
industries.
(iv.) Kenetics Efficient Library System, designed for the
library management market allowing self check in/out, efficient shelf
management, location of misplaced books and general book theft protection.
Installed in the Singapore National Library, British Council in Singapore and
currently undergoing trials in the British Library in the UK.
• Insinger de Beaufort act as Nominated Advisor and Broker to the
Company.
Commenting on the Introduction to AIM, Ken Wong Chief Executive of Kenetics
said;
'Since founding Kenetics, we have made good progress in expanding our products
in the Asia Pacific regions, in particular Australia, Japan and China. We have
also developed a range of IP Blocks that are now ready for large scale
implementation in new markets such as Europe and the US. This initial
introduction to AIM will provide us with the quoted currency required to expand
the Group through a combination of strategic joint ventures, acquisitions and by
establishing 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 / William
Looker
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 RFID
industry for more than 10 years, designing a number of smart card and RFID
products. In 1995, Ken joined Stoval Chip Cards as an engineer and was
instrumental 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. As
the Managing Director, Ken was exposed to the European and American markets and
played a key role in the IPO of AmaTech AG. Ken left AmaTech Singapore in 2001
to start up Kenetics.
Hin Yuen Yeong - Chief Operating Officer & Vice President (aged 59)
Mr. Yeong joined Kenetics in 2005. He obtained a Bachelor of Mechanical
Engineering from the University of Singapore and a Masters in Production
Engineering 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 the
Intellectual Property Office of Singapore and was also a member of the Board of
Governors 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 and
managerial positions in private companies in both UK and China. Mr. Seet is an
Associate Member of the Chartered Institute of Management Accountants (UK) and a
Member of the Institute of Certified Public Accountants of Singapore. He also
holds 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 several
exchanges in London, including the International Petroleum Exchange, the OM
London Exchange, Jiway and Nasdaq International (whose operations he set up in
Europe in the late 1980s). He also ran public affairs for the London Stock
Exchange at the time of Big Bang. He spent the first 15 years of his career in
the British Diplomatic Service where he became private secretary to a Minister
of State and concluded this stage of his career with responsibility for
promoting financial services at the British Embassy in Paris. He studied at the
University of Wales, Aberystwyth, where he took a first class honours in
International Politics. Mr. Jones spent several years as a board member of
London's Futures and Options Association and of the London Clearing House. He
serves on the panel of City experts created by the Corporation of the City of
London and is a non-executive director (and former chairman) of the Dubai
International 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 his
career as a product engineer with Stoval Chip Cards in 1998. He left Stoval in
2000 to join AmaTech as a CAD/CAM engineer. Mr. Ow holds a Diploma in
Electronics, Computer Communications Engineering.
Keh Teng Geok - Head, Systems (aged 28)
Mr. Keh graduated from Queensland University of Technology in 2002 with a
Bachelor degree in Information Technology (Data Communications). He joined
Kenetics in 2002 as a software engineer. Over these four years, he has worked on
several 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 Exchange