RNS Number : 7472S
26 May 2009
26 May 2009
('the Company' or 'the Group')
AGM Trading Update
TG21, the vehicle installation service provider supplying public transport CCTV and other monitoring systems, is holding its Annual General Meeting today at 10.30am at The National Control Centre, Drake Road, Mitcham, Surrey, CR4 4HQ.
A resolution is to be proposed at the meeting to change the name of the Company to 21st Century Technology plc.
Peter Ward, Executive Chairman, will make the following statement about current trading:
'The Group is trading ahead of management expectations for the year to date as CCTV contracts with Arriva in Europe and Go-Ahead Group in the UK made a significant contribution in the first quarter.
Sales of our EcoManager system also received a boost when Arriva announced that all its new buses in the UK and 1,800 buses in their existing fleet will be fitted with the fuel-saving device.
Cash flow remains strong and I am particularly pleased to report that the Group maintains a net cash position.'
Further details on Arriva UK's roll out of EcoManager can be found at: http://www.arriva.co.uk/arriva/en/media_centre/press_releases/2009/2009-04-20/
For enquiries please contact:
Peter Ward, Chairman
Nick Grimond, Chief Executive
TG21 plc Tel: 020 8710 4000
Graham Webster/Charlotte Stranner Tel: 020 7776 6550
Daniel Stewart & Co plc (Nominated Adviser)
Barnaby Fry / Vicky Watkins
Hogarth Partnership Tel: 020 7357 9477
Notes to editors
Launched in 1993, the company began as Toad plc and was focused on the distribution of in-car entertainment systems and vehicle security products. Under the stewardship of Chairman Peter Ward, former Chairman and CEO of Rolls Royce Motors and Cunard Line, who joined the board at the end of 2001, TG21's strategy has been to reposition itself away from its legacy businesses into markets with better growth potential while leveraging its core strengths - nationwide field force of vehicle electrical engineers, call centre and distribution facilities.
In line with this strategy, in 2005 the company took a controlling stake in 21st Century Crime Prevention Services Ltd ('21st Century'), the preferred supplier of on-board CCTV systems for Arriva UK Bus. 21st Century has pioneered the use of WiFi with on-board CCTV systems and was the first company to successfully launch automatic video downloads and a bus CCTV monitoring system (HeartbeatTM).
21st Century's new EcoManager product has also contributed significantly to the recent increase in revenue in the Group's Public Transport Solutions division. The EcoManager system, which incorporates a passenger counting facility, is aimed at reducing fuel costs, improving safety and enhancing revenues for bus operators by monitoring driving styles against fuel consumption.
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