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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Marinetrack | LSE:MTRK | London | Ordinary Share | GB00B3BKBK60 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.05 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMTRK RNS Number : 7966L Marinetrack Holdings PLC 16 January 2009 16 January 2009 MarineTrack Holdings Plc ("MarineTrack" or the "Company") Trading and financial update Since the Company's announcement on 5 January 2009, MarineTrack's trading environment has become even more challenging with sales further impacted by worldwide economic downturn which has affected the Company's commercial customers and particularly its traditional leisure market. As announced on 5 January 2008, the Company has switched its sales focus in the short term to the major one-off opportunity represented by the December 2008 deadline for commercial shipping fleets to gain compliance with new international rules on LRIT (Long Range Identification Tracking). Although the board believes that the Company has the potential to benefit from this opportunity, it does not expect it to result in an immediate significant increase in sales. Whilst the board of MarineTrack believes firmly in the long term prospects of the business, the very difficult trading conditions have put it in the position where it must secure additional financing if it is to continue trading beyond the end of this month. With this in mind the Company is in discussions with its key suppliers and financiers with a view to securing the short term position of the Company and will make a further announcement once these discussions have concluded but will, in any event, make a further announcement by 23 January 2009. In addition, the Company continues to look for a strategic corporate transaction which would significantly enhance the prospects of the business and further announcements will be made as appropriate. Enquiries: Duncan Lipscombe, Director MarineTrack Holdings Plc Tel: 07775 681648 www.marinetrackholdingsplc.co.uk Philip Secrett / Colin Aaronson Grant Thornton UK LLP (Nominated Adviser) Tel: 020 7383 5100 About the Company MarineTrack Holdings plc's primary operating business is MarineTrack Ltd. MarineTrack Ltd is a telematics business supplying tracking, alert, alarm, monitoring and messaging solutions mainly to the commercial and recreational maritime markets. These solutions, which integrate hardware and software, utilise global positioning systems ("GPS") to identify the location and movements of marine vessels, as well as monitoring their operational status against pre-determined parameters. This information is provided by RNS The company news service from the London Stock Exchange END TSTILFVSLTIRLIA
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