GlobalData Regulatory News (DATA)

14 Oct 2005 07:36

14 October 2005 themutual.net plc ("the Company") Amendment to AGM Statement Further to the AGM Statement announced on 12 October 2005 the Company wishes toclarify that all resolutions in the notice of meeting were passed with anoverwhelming majority, as opposed to unanimously as previously announced.The full text of the amended AGM Statement is included below.Contacts:themutual.net plcMark Smith, Chief ExecutiveTel: 020 7440 9310 themutual.net plc ("the Company") AGM Statement At the AGM of themutual.net plc, the AIM quoted on-line reward company, held inLondon today at 09:30 a.m., all resolutions in the notice of meeting werepassed with an overwhelming majority, including amongst others:i. the authority of the Board to buy back up to 10 per cent of its currentissued share capital; andii. unconditional authority of the Directors to allot shares up to in aggregatethe number of the total authorised but unissued number of shares at the date ofthis resolution.Both of the above authorities apply for a twelve month period.At the meeting, Mark Smith, Chief Executive, outlined the following tradinghighlights to shareholders:- Revenue in line with forecasts- Pre-tax profit for the first 5 months is comfortably ahead of the comparableperiod- Visitors to website have increased by over 110%- New member acquisition now rising by over 40,000 each month- Sale of all of the Company's interest in QXL ricardo plc, realising anexceptionalafter tax profit of over ‚£300,000Mark Smith, CEO, said "The company now has a strong momentum behind it and,with our strong trading in the first five months, we remain fully confident ofmeeting our broker's forecasts, with the website and email products firmly setin place to deliver in the 4th quarter."Contacts:themutual.net plcMark Smith, Chief ExecutiveTel: 020 7440 9310 Editor's notesthemutual.net plc, the AIM quoted on-line reward and email marketing companyhas developed a website to act as a portal for its members to access around 500online shopping sites. themutual.net incentivises shoppers by rewarding themwith shares in the Company or with points which are redeemable for cash. ENDthemutual.net PLC