Statement regarding Belgravium Technologies plc

RNS Number : 1439M

Trakm8 Holdings PLC

11 July 2014

 

Not for release, publication or distribution in whole or in part, in or into the United States, Canada, Australia, Japan, New Zealand, Russia, South Africa or any other jurisdiction where to do so would be unlawful

This is an announcement falling under Rule 2.8 of the City Code on Takeovers and Mergers (the "Code")

TRAKM8 HOLDINGS PLC

("Trakm8" or the "Group")

Statement regarding Belgravium Technologies plc

Rule 2.8 Announcement

On 8 July 2014 Trakm8, the AIM-listed designer, developer and manufacturer of GPRS based hardware and software for the vehicle placement and security market, confirmed that it had made a preliminary approach regarding a possible offer for the entire issued and to be issued share capital of Belgravium Technologies plc ("Belgravium"). These discussions have not led to an agreement to proceed with an offer and accordingly talks have now terminated.

Under Rule 2.8 of the City Code on Takeovers and Mergers, Trakm8, and any person deemed to be acting in concert with it, is restricted from announcing an offer or possible offer for Belgravium (and/or taking any other action which could otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement except in the circumstances set out in Note 2 to Rule 2.8 of the Code.

For further information please contact:

Trakm8 Holdings plc	01747 858444
John Watkins, Executive Chairman
James Hedges, Finance Director
MHP Communications (Financial PR to Trakm8)	020 3128 8100
Reg Hoare / Vicky Watkins
finnCap (Nomad & Broker to Trakm8)	020 7220 0500
Ed Frisby / Christopher Raggett - corporate finance Joanna Weaving - corporate broking

Notes to Editors

Trakm8

Trakm8, the M2M telematics company using Big Data analytics to improve driver behaviour is a leading technology designer, developer and manufacturer of telematics products and solutions.

The Group, based in Shaftesbury, Dorset, distributes its hardware and software through a network of distributors worldwide. In addition the Group provides vehicle monitoring and tracking services direct to the B2B market.  Trakm8's IP owned products and services allow vehicles and drivers to be monitored, allowing organisations to manage deliveries and services, or track stolen vehicles down to five metres.

Recently Trakm8 have developed the T10 product range, which includes a self-installed telematics device. The Group's services also include driver behaviour management solutions that can reduce fuel consumption by 10% or more, reduce risk of accidents, logistics routing & scheduling packages, and tachograph data reporting. The Group's customers include Direct Line Group, Eon, St Gobain, the AA, Fujitsu and Kubota.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

www.trakm8.com

finnCap Limited which is regulated in the United Kingdom by The Financial Conduct Authority is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of finnCap or for providing advice in relation to the matters described in this announcement.

Publication on website

A copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) at www.trakm8.com by no later than 12 noon (London time) on the business day following the release of this announcement in accordance with Rule 30.4 of the Code. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

 

END

 

 

OFDBSGDRRBBBGSB