Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Knowledge Technology (ARC)

  Print      Mail a friend

Tuesday 04 December, 2007

Knowledge Technology

Final Results

Knowledge Technology Solutions PLC
04 December 2007

RNS Release
4 December 2007



Knowledge Technology Solutions PLC (AIM: KTS), provider of market information
services in the finance sector, reports its unaudited results for the year ended
30 June 2007.

Financial and business highlights:

•        Turnover reduced to £1.0m (2006: £1.4 m)

•        Group loss before tax of £1.1m (2006: £1.0m)

•        Completed substantial fund raising amounting to over £1.7 million (net
         of expenses)

•        Continued to make investment in the enhancement of our underlying

•        Acquisition of Arcontech Limited completed in September 2007

•        In September 2007, announced a significant contract win for CfD and
         Spread Betting trading solution with Hichens Harrison

Richard Last, Chairman of Knowledge Technology Solutions, said:

'The addition of Arcontech has brought closer the time by which the Group should
reach profitability.  Cost reductions and the organic growth anticipated from
the KTS Solutions business are also expected to generate financial benefits for
KTS.  The Board's priority and immediate focus is to stem the recurring losses
in the KTS business whilst supporting the organic development of Arcontech.  We
will, however, continue to look for and pursue suitable acquisition
opportunities, which would enhance shareholders' value.'

Enquiries, please contact:

Dr Marc Pinter-Krainer      Knowledge Technology Solutions PLC   020 7256 2300
Mike Coe/Marc Davies        Blue Oar Securities PLC              0117 933 0020
Katie Hunt/Will Henderson   Smithfields                          020 7360 4900

Chairman's Statement


This is my first report to you as Chairman.  The period since 30 June 2006 has
been one of considerable change for Knowledge Technology Solutions Plc ('KTS').

During the year KTS completed substantial fund raising amounting to over £1.7
million (net of expenses), which has been used to provide additional working
capital and to substantially strengthen the company's balance sheet.  In
September 2007 the acquisition of Arcontech, a provider of IT solutions for the
CfD and Spread Betting markets, for an initial consideration of £1.24 million in
cash and 45 million new ordinary shares in KTS, has also substantially broadened
and strengthened the Group's trading activities.  Recent sales wins by
Arcontech, including Hichens Harrison, give us confidence that significant
opportunities exist in this area.

As regards the original KTS business, considerable development has been
undertaken to provide solutions for our customers relating to MiFID and internal
data aggregation, and whilst we believe opportunities in these areas remain we
have not yet succeeded in winning any significant orders for these products.  We
are focusing sales effort in these areas to identify the opportunities that may

The Market Terminal Subscription business has been disappointing with a net
reduction in subscribers over the year and we are presently carrying out a
detailed review of this part of the business.

The results for the year to 30 June 2007 which report a 31% reduction in
turnover to £982,000 (2006 £1,417,000) and an operating loss of £1,191,000 (2006
£1,070,000) are reviewed in detail in the Chief Executive's Review.

Board Appointments

In addition to my own appointment to the Board on 19 February 2007, Louise
Barton also joined on that date.  Louise has over twenty years experience in the
City in both Fund Management and Stockbroking and provides the Board with
excellent support and advice on such issues as fund raising, shareholder
communication and in the areas of customer expectation and needs from our

Andrew Miller, Managing Director of Arcontech, joined the Board of KTS as Chief
Technology Officer following the acquisition of Arcontech on 4 September 2007.
Andrew brings a wealth of knowledge and experience of the IT Solutions market-
place in the City of London.


I would like to thank all our employees for their hard work and commitment to
the Group over the last year.

Business Development

We propose to continue to develop the Group's business in providing IT Solutions
for data aggregation and dissemination within and between financial
institutions.   The IT solutions provided by Arcontech, particularly in the
Spread Betting and CfD areas will also be a focus for continued development.  We
are confident of organic growth opportunities in these areas.


The addition of Arcontech has brought closer the time by which the Group should
reach profitability.  Cost reductions and the organic growth anticipated from
the KTS Solutions business are also expected to generate financial benefits for
KTS.  The Board's priority and immediate focus is to stem the recurring losses
in the KTS business whilst supporting the organic development of Arcontech.  We
will, however, continue to look for and pursue suitable acquisition
opportunities, which would enhance shareholders' value.

Richard Last


4 December 2007

Chief Executive's review

It has been an exciting period for KTS since our last report, marked by the
successful acquisition of Arcontech, the award-winning specialist middleware
software company, as well as further development work focused on solutions which
are designed to address the changing market requirements, particularly in the
light of opportunities presented by the Markets in Financial Instruments
Directive (MiFID).

During the year ended 30 June 2007, turnover continued to be solely attributable
to the MarketTerminal subscription service which continues to address a
challenging market place. Turnover dropped 31% to £981,745 (2006: £1,417,063) in
part as a result of the discontinuation of international market coverage, which
took effect from 1 January 2007. Although costs decreased by £314,389 compared
to the previous year, this was not sufficient to compensate for the decrease in
subscription revenue and as a result, pre-tax losses increased by 12% to
£1,140,518 (2006: £1,016,166).

We have continued to make significant investment in the enhancement of our
underlying technology to reduce latency, increase stability and reduce total
cost of ownership.

The acquisition of Arcontech, completed on 4 September 2007, provides us with a
basis for offering complete solutions combining front-end display components
based on our proven MarketTerminal application and the award-winning middleware
solutions in which Arcontech specialises. Arcontech's middleware products
currently provide a broad base of blue chip customers including major investment
banks, data vendors and leading spread betting and Contracts for Difference
(CfD) brokerages with leading edge solutions for real time calculation,
publishing, distribution and aggregation of financial data, as well as a
complete online trading platform.

Arcontech's trading platform (AXE), which comprises a low latency price
calculation engine, order management and position keeping, as well as a full
back office administration system, allows Arcontech to exploit the fast growing
CfD and Spread Betting markets. In September 2007, we announced a significant
contract win for the provision of this trading solution to Hichens Harrison.

We are currently looking at ways to capitalise on our investment in the
MarketTerminal technology to provide customised solutions to financial

The increased resources, technology and blue-chip client base brought to the
Group through the acquisition of Arcontech provides a solid base to address the
increasing demand for sophisticated real-time, on-line and web-based data
distribution and trading systems.

Marc Pinter-Krainer

Chief Executive

4 December 2007

Consolidated Profit and Loss Account

For the year ended 30 June 2007
                                                                        Note       Year ended          Year ended
                                                                                 30 June 2007        30 June 2006
                                                                                            £                   £
Turnover                                                                 1            981,745           1,417,063
Distribution costs                                                                (1,043,738)         (1,316,988)
Administrative costs                                                              (1,129,359)         (1,170,498)
Operating loss                                                                    (1,191,352)         (1,070,423)
Interest receivable                                                                    50,834              54,257
Loss on ordinary activities before taxation                                       (1,140,518)         (1,016,166)
Taxation                                                                 2                  -                   -
Loss on ordinary activities after taxation                                        (1,140,518)         (1,016,166)
Dividends                                                                3                  -                   -
Retained loss for the year                                                        (1,140,518)         (1,016,166)
Loss per share                                                           4            (0.45)p             (0.69)p
Diluted loss per share                                                   4            (0.45)p             (0.69)p

All of the results relate to continuing operations.

There are no recognised gains or losses other than the loss for the year.

Consolidated Balance Sheet

As at 30 June 2007
                                                                                      2007              2006
                                                                                         £                 £
Fixed assets
Tangible assets                                                                    122,226           158,527
Investments                                                                              -                 -
                                                                                   122,226           158,527
Current assets
Debtors                                                                            216,641           229,059
Cash at bank and in hand                                                         1,473,451           961,878
                                                                                 1,690,092         1,190,937
Creditors: amounts falling due within one year                                   (442,542)         (562,723)
Net current assets                                                               1,247,550           628,214
Net assets                                                                       1,369,776           786,741
Capital and reserves
Called up share capital                                                            332,532           148,275
Share premium account                                                            6,316,870         4,777,574
Profit and loss account                                                        (5,279,626)       (4,139,108)
Equity shareholders' funds                                                       1,369,776           786,741

Approved on behalf of the board on 4 December 2007 by:

Marc Pinter-Krainer                   Michael Levy
Chief Executive Officer               Group Finance Director

Consolidated Cash Flow Statement

For the year ended 30 June 2007
                                                                                   Year ended       Year ended
                                                                                 30 June 2007     30 June 2006
                                                                                            £                £
Net cash outflow from operating activities                                         (1,254,885)       (778,952)
Returns on investments and servicing of finance
Interest received                                                                       50,834          54,257
Net cash inflow from returns on investments and servicing of finance                    50,834          54,257
Purchase of tangible fixed assets                                                      (8,971)        (29,480)
Sale of tangible fixed assets                                                            1,042               -

Net cash outflow from capital expenditure and financial investment                     (7,929)        (29,480)
Net cash outflow before financing                                                  (1,211,980)       (754,175)
Issue of share capital                                                               1,842,571               -
Expenses paid in connection with share issue                                         (119,018)               -
Net cash inflow from financing                                                       1,723,553               -
Increase/(Decrease) in cash in the year                                                511,573       (754,175)

All cash flows relate to continuing operations.

Notes to the Preliminary Statement

1    Turnover

Turnover is attributable to the principal activities of the Group being the sale
of real-time data and analysis services, together with advertising and
sponsorship revenue.  All turnover arises within the UK.

Income is recognised over the contract period.

2    Taxation on loss on ordinary activities

As a result of the losses available, no liability to UK corporation tax arose on
the ordinary activities for the year ended 30 June 2007.

3    Dividends

      The Directors do not recommend the payment of a dividend.

4    Loss per ordinary share

      The loss per Ordinary Share has been calculated by dividing the loss on
ordinary activities after tax attributable to shareholders by 254,113,141 (2006:
148,274,732), being the weighted average number of Ordinary Shares in issue
during the year, which carry the right to receive a dividend.  As a result of
the loss for the year there is no difference between the basic and diluted loss
per share.

5    Post balance sheet events

On 7th August 2007 the Company exchanged a conditional contract for the
acquisition of the entire issued share capital of Arcontech Limited. The
acquisition was completed on 4th September 2007. The initial consideration was
satisfied with cash of £1,239,933 and the issue of 45 million Ordinary shares of
0.1 pence. In addition, deferred consideration capped at £300,000 is payable in
cash or shares if Arcontech Limited achieves turnover over £1.2 million and up
to £2.2 million in the twelve month period immediately following the completion
of the acquisition.

The Company allotted Ordinary Shares of 0.1 pence each as follows:

Date                                      Number

3 September 2007                          111,111,111 shares at 0.9 pence per share
4 September 2007                          45,000,000 shares at 0.9 pence per share

6    Annual report and accounts

      The foregoing financial information does not amount to full accounts
within the meaning of Section 240 of the Companies Act 1985 and has not been
reported on but has been agreed with the Company's auditors.  The Annual Report
and Accounts will be filed at Companies House following the Annual General
Meeting and will be posted to shareholders shortly. Copies will be available
from the Company Secretary at 8th Floor, Finsbury Tower, 103-105 Bunhill Row,
London, EC1Y 8LZ.

7    Annual General Meeting

      The AGM will be held at 8th Floor, Finsbury Tower, 103-105 Bunhill Row,
London, EC1Y 8LZ, on 28 December 2007 at 10 am.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                                                                              

a d v e r t i s e m e n t