Trakm8 Holdings PLC
29 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 software
for the vehicle placement and security market, has today been admitted to
trading on AIM under the symbol TRAK.
The Group has 11,026,000 million Ordinary Shares in issue at a listing price of
100 pence per share and on Admission will have an anticipated market
capitalisation of £11.0 million.
The Group supplies its licensed GPRS ("General Packet Radio Service") based GPS
vehicle placement hardware, enabling software and information management
platforms for the end user through selected distribution partners, including
directly to two subsidiaries of FTSE 100 companies.
The Directors believe the Group has an innovative business model. Instead of
being a fully integrated developer, manufacturer, distributor and maintainer of
its equipment, Trakm8 focuses on the key activity areas it believes make its
products attractive to the end users, and where it believes the financial
returns are greatest - these being the development of the control software
inside the electronic boxes and the software used to track the vehicles.
Cary Knapton, CEO of Trakm8, commented: "Our listing on AIM will help to raise
the Group's profile within the market and create further opportunities for our
existing and future products.
"The Group's hardware and software products enable it to supply into multiple
potential markets within a fragmented industry. In addition to the Group's
existing markets, a number of additional industry trends are emerging from which
we believe the Group is well positioned to benefit, including pay-as-you-drive
insurance, personal security and road tolling. We believe that our
differentiated business model allows us to occupy an important gap in the
vehicle placement industry and we view the future prospects of the Group with
some confidence."
-ends-
For further information please contact:
Trakm8 Holdings plc 01747 858 444
Cary Knapton, Chief Executive Officer
Tim Couling, Finance Director
Tavistock Communications 020 7920 3150
Simon Hudson
Christian Taylor-Wilkinson
This information is provided by RNS
The company news service from the London Stock Exchange
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