We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Quiktrak | LSE:QTR | London | Ordinary Share | GB0031988057 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1382A QuikTrak Networks PLC 25 June 2004 UPDATE ON ACTIVITIES IN THE UAE AND KUWAIT PLACING OF NEW ORDINARY SHARES London, 25 June 2004 - Further to QuikTrak Networks plc's announcement on 17 June 2004, the Company is continuing to progress its strategy aimed at securing licence agreements with QuikTrak Network prospective operators in its territory (comprising Europe, the Middle East and countries of the former USSR). The Company has been in ongoing commercial negotiations in the UAE over the past eight months which have now led to an agreement with a major corporation based in Abu Dhabi for the potential deployment of a QuikTrak Network in the region, through a Technology Licence. This process will initially involve the establishment of a local network operating company by our UAE partner, the application by them for grant of a Spectrum Licence for the region and preparation of the business plan to include propagation studies to establish the number of base stations required for the planned coverage area. It is expected that the Company will be contracted to assist in these tasks. A third party will be contracted by the UAE partner to provide roll-out services, whilst the Company expects to generate ongoing revenue through its licence model and from the provision of technology support services. In addition to the UAE opportunity, the Company has entered into a Memorandum of Understanding with a Kuwait based investment company, which has led to the lodging by them of an application for a Spectrum Licence for that region. Both parties expect the licence to be granted within one year, during which time the parties will continue to negotiate terms for the Technology Licence. Both opportunities demonstrate the market demand for QuikTrak's secure tracking technology in the area of security related applications and the potential of the revised strategy recently adopted by the Company. In order to provide finance for these opportunities and further working capital, the Company has received irrevocable commitments for #846,450 to be raised through the issue of 56,430,004 new ordinary shares at a price of 1.5p per share. This fund raising is subject to shareholders granting the Directors authority to allot further shares on a non-preemptive basis at the previously announced EGM to be held on 6 July 2004. Application will be made for these shares to be admitted to trading on AIM. Guido van Alphen Chief Executive Officer For further information contact: Annie Richards QuikTrak Networks plc Tel: 0870 010 6044 Hugh Oram Nabarro Wells & Co Ltd Tel: 020 7710 7400 This information is provided by RNS The company news service from the London Stock Exchange END TSTILFVARFISFIS
1 Year Quiktrak Chart |
1 Month Quiktrak Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions