Acquisition/Admission to AIM

RNS Number:5974L
Timeload PLC
28 May 2003

Timeload plc (to be renamed COE Group PLC) ("the Company")

Completion of Acquisition of COE Limited and Admission to AIM



Timeload announces completion of the acquisition of COE Limited ("COE") and the
admission ("Admission") today of the enlarged issued share capital of the
Company to trading on AIM (consisting of 12,399,474 new ordinary shares of 5p
each).


The Tender Offer, which took effect upon Admission, was fully subscribed and
proceeds will be despatched to shareholders that elected to tender some or all
of their shares on or about 30 May 2003.



Board Changes


Effective today, Dick Eykel has changed from executive to non-executive Chairman
and Brian Wadsworth, Mark Marriage, John Cook, and Colin Glass have been
appointed to the Board.  Brian Wadsworth has been appointed Chief Executive
Officer; Mark Marriage, Technical Director; John Cook, Non-executive Director;
and Colin Glass, Non-executive Finance Director.



In addition, Jon Molyneux has resigned from the Board.  Mr Eykel would like to
thank Mr Molyneux for his commitment and valued contribution.





For further information, please contact:


Brian Wadsworth                                            0113 230 8800
Chief Executive Officer
Timeload plc (to be renamed COE Group PLC)


Jonathan Hinton/Byron Griffin                              020 7438 3000
Deloitte & Touche Corporate Finance





Background information on COE



COE, the trading entity within the group admitted to trading on AIM, is a
leading designer and manufacturer of networked analogue and digital video
solutions for surveillance applications.



COE provides clients with an integrated solution, including network transmission
products (that manage the transmission of data from surveillance cameras to
control rooms), command and control products (that enable the operator to
manipulate remotely specific cameras and automatically analyse the resultant
data) and software tools (that provide the operator with a graphical
representation of the surveillance network to enable easy access and
management).



COE targets the transport infrastructure, security and industrial sectors.
These sectors are currently experiencing strong growth, which the Directors
believe is attributable, inter alia, to (i) heightened terrorist security
concerns in urban areas, public transport networks and utility and petrochemical
facilities, and (ii) an increase in infrastructure investment for improved,
safer public transport networks and urban congestion management.  The Directors
believe that future growth will also be stimulated by technological developments
and increasing demand for integrated solutions of the kind COE provides.



COE's products are generally categorised within the wider closed circuit
television ("CCTV") market.  The European CCTV market in 2001 was estimated to
be worth Euro1.6 billion and is expected to grow at an average annual compound
growth rate of approximately 10 per cent. per annum to Euro2.5 billion in 2006
(source: Proplan Report 2002).  The Directors believe the global CCTV market to
be currently more than triple the size of the European market.  Whilst COE's
addressable market represents a niche element of the total global CCTV market,
the Directors believe that the products of the type manufactured by COE are at
the forefront of the positive market trends noted above and that COE is well
positioned to benefit from this market growth.



COE principally undertakes two types of project, being (i) large, complex
infrastructure projects with extended gestation periods and long lead times to
delivery, and (ii) mid-range security projects with shorter gestation periods
and shorter lead times to delivery.  Examples of recent projects and customers
include the Transport for London Congestion Charging Scheme, Kowloon Canton
Railway Corporation West Rail Project, JFK Airport to New York Light Rail
System, UK Highways Agency Traffic Information System, Singapore Mass Rapid
Transit North East Line and Bradford Metropolitan District Council Security
Scheme





Deloitte & Touche Corporate Finance is acting for Timeload as sponsor in
connection with the acquisition of COE Limited and as nominated adviser in
relation to the admission to AIM and for no-one else and will not be responsible
to anyone other than Timeload for providing the protections offered to clients
of Deloitte & Touche Corporate Finance nor for providing advice in relation to
the acquisition or admission to AIM. Deloitte & Touche Corporate Finance is a
division of Deloitte & Touche which is authorised and regulated by the Financial
Services Authority in respect of regulated activities.









END




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCAPMPTMMBTMPJ