KBC.L Regulatory News (KBC)

28 Apr 2005 15:33

KBC Advanced Technologies plc28 April 2005 AGM STATEMENT Immediate release28 April 2005 KBC Advanced Technologies plc ("KBC" or "the Company") AGM RESULTS AND UPDATE KBC announces that at the Annual General Meeting held on 28 April 2005 allresolutions were passed. At the meeting the Chairman, Christopher Powell-Smith, made the followingstatement: Update As expected, 2005 has seen an improvement in the market conditions for KBC withnew orders worth £8.8m being won in the first quarter. While it is still earlyin the year, this represents an advance over the first quarter of 2004. In March the Company also raised £805,112 by placing 2,403,318 new shares withinstitutional shareholders. This provides additional working capital within thebusiness whilst profitability is being restored. Board changes I confirm Peter Plant's retirement as a Non-Executive Director with effect fromtoday. Peter has served in this capacity since 1994 and for much of that timeacted as Chairman of the Audit Committee. Peter's financial expertise and wisecounsel has been a great benefit to the Company and we would like to thank himand wish him all the best for the future. I am also pleased to report that with immediate effect Ian Miller, anindependent Non-Executive Director of the Company, has been appointed SeniorIndependent Non-Executive Director and will assume the role of Chairman of theAudit Committee. -ends- Enquiries: KBC Advanced Technologies plc 01932 236314Christopher Powell-Smith, ChairmanNicholas Stone, Finance Director Arden Partners 020 7398 1632Richard Day This information is provided by RNS The company news service from the London Stock Exchange