Iomart Group PLC
19 June 2001
iomart Group plc
AGM statement
iomart announces that all resolution proposed at the company's first AGM held
in Glasgow today at 4.00 pm were passed. At the meeting, the Chairman Nick
Kuenssberg said:
'iomart's revised strategy is to focus on ADSL roll out, web hosting,
co-location and e-messaging. Our determination to reduce monthly cash burn
rate and structure our business to fit our current aspirations has led us to
commit to consultations to integrate the Glasgow and Edinburgh offices and
reduce total personnel by some 50, largely through voluntary redundancy.
Current cash balances are in excess of £11 million. Your board is convinced
that the e-messaging business represents an emerging market which we aim to
exploit with our Thinkmail portfolio of products. Progress in both ADSL and
e-messaging is slower than we would like, but we remain convinced that this
stance and related developments in Thinkmail and messaging services are the
keys to future profitability and a sustainable business.'
Enquiries:
Nick Kuenssberg, Chairman, Tel: 0141 339 8345
Angus MacSween, Chief Executive, Tel: 0141 931 7000
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