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Share Name | Share Symbol | Market | Type |
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Rio Fortuna Exploration Corp | TSXV:RFT | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS Number:6822H Raft International PLC 19 February 2003 Raft International plc ("Raft" or the "Group") AGM Statement At today's Annual General Meeting of Raft International Plc, David Priestley, Chairman said:- Trading conditions, as highlighted at the time of our preliminary results in December 2002, remain challenging with the Group continuing to experience purchasing delays and lengthy sales cycles. This is primarily due to clients adopting stringent budget controls as well as detailed verification and authorisation processes. Despite this difficult trading environment, I am pleased to report that in the last five months, your company has succeeded in winning a combination of 4 new European and North American contracts with a value in excess of #2.6 million. In addition, our ongoing pipeline is encouraging and, unless market conditions deteriorate further, we are optimistic that we will announce additional contract wins in the coming months. Contract wins in the first quarter combined with a healthy sales pipeline going forward strongly support the Board's strategy of concentrating on Raft's core operational risk management and credit risk management solutions for the investment banking and energy sectors. These flagship sector products and solutions represent Raft's long-term strategy and, fuelled by strict new corporate governance regulations, will drive the Group towards profitability in the medium term. Your Board has completed a reorganisation of the Group. This process has included strengthening our management team, improving our US sales capability with a new office opening in Houston Texas as well as enhancing our R&D capability. These changes, in tandem with continued cost control initiatives have created a lean organisation able to leverage opportunities and compete more efficiently. Trading conditions continue to remain extremely challenging for our sector but we are cautiously optimistic for the year ahead. All resolutions proposed at the Annual General Meeting were duly passed. Press enquiries: Sandra Kelly, CFO Raft International plc + 44 (0)20 7847 0400 Shane Dolan Biddicks + 44 (0)20 7448 1000 This information is provided by RNS The company news service from the London Stock Exchange END AGMZGGMZGLNGFZM
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