Re QAD Agreement

 

TIDMMXM 
 
RNS Number : 1146B 
Maxima Holdings PLC 
20 October 2009 
 

+----------------------------------------+------------------------------------------+ 
|                                        |                        20 October 2009   | 
+----------------------------------------+------------------------------------------+ 
 
 
Maxima Holdings plc 
Re: QAD Agreement 
Maxima Holdings plc ("Maxima" or "the Company"), the IT business systems and 
managed services company, has today been advised that its agreement with QAD 
Europe BV for distribution of QAD Enterprise Software will not be renewed when 
it expires on 31 January 2010.  Whilst Maxima has been an award winning 
distributor for QAD and is the only distributor of QAD software in the UK and 
Ireland, Maxima has been informed that, following a change to QAD's business 
model, QAD will service its clients directly from 1 February 2010. 
 
 
Maxima continues to have Distribution Agreements and strong relationships with 
other leading enterprise software vendors including Microsoft, SAP and Oracle 
and will be redirecting its resources to mitigate the impact of QAD's decision. 
As announced on 24 September at the time of its AGM, the Company's focus on 
further improvement in service and solution delivery continues to win new 
business and the Directors are pleased with the progress of the Group. 
 
 
Despite this progress and the mitigating actions to be taken, the Directors 
expect this decision by QAD to have an adverse effect on revenues and profits 
for the current financial year. At this time, the Directors estimate the impact 
on current year adjusted operating profits to be up to GBP1.3m. A further update 
on current trading will be issued following Maxima's half year ending 30 
November 2009, in mid-December. 
 
 
For further information please contact: 
+------------+----------------+ 
| Maxima     |                | 
+------------+----------------+ 
| Graham     | 01242 211 211  | 
| Kingsmill, |                | 
| Chief      |                | 
| Executive  |                | 
| Officer    |                | 
+------------+----------------+ 
| David      | 01242 211 211  | 
| Memory,    |                | 
| Chief      |                | 
| Financial  |                | 
| Officer    |                | 
+------------+----------------+ 
|            |                | 
+------------+----------------+ 
| Cenkos     |                | 
| (Nominated |                | 
| advisor to |                | 
| the        |                | 
| Company)   |                | 
+------------+----------------+ 
| Stephen    | 020 7397 8900  | 
| Keys       |                | 
+------------+----------------+ 
|            |                | 
+------------+----------------+ 
| Smithfield |                | 
+------------+----------------+ 
| Reg        | 020 7360 4900  | 
| Hoare      |                | 
| / Will     |                | 
| Henderson  |                | 
+------------+----------------+ 
 
 
Editor's Notes 
 For further information please contact: 
 Victoria Franks, 
Marketing Manager 
 [phone] 
[e-mail] 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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