ARTA.L Regulatory News (ARTA)

22 Dec 2005 10:14

Future Internet Technologies PLC22 December 2005 Press Release 22 December 2005 Future Internet Technolgies AGM Statement At the Annual General Meeting of Future Internet Technologies ("FIT") theChairman, Richard Armstrong, made the following statement; "FIT is now in astrong position to implement it's new investment strategy. The new funds raisedwill increase the range of opportunities available to the Company, and it willhave the potential to acquire companies and interests in companies that where itwill be possible to generate synergies by virtue on the Company's commoninterest. The Board believes that there will be instances when it will have anactive role in managing the businesses acquired or invested in, and it may bringin additional management to achieve this where appropriate. The Board intends topursue a focused investment policy which will involve a limited number ofinterests that may be concentrated in one specific sector. The Directors believe that their general corporate finance and investmentexperience will enable them to select and structure transactions that will bevalue enhancing for shareholders but they call upon suitably qualified technicalexperts to assist in due diligence on certain aspects of a potential investment.They believe that they will be able to implement substantially the investmentstrategy during 2006 but, should they be unable to do so, the Directors will putresolutions to shareholders at the next Annual General Meeting to consideralternatives for the Company which would include returning funds to shareholders". The Board also announce that the registered office of the Company has beenchanged to c/o Merchant House Group plc, 7th Floor, Aldermary House, 10-15 QueenStreet, London EC4N 1TX. This information is provided by RNS The company news service from the London Stock Exchange