Trakm8 Hldgs Regulatory News (TRAK)

2 Apr 2007 11:15

Trakm8 Holdings PLC02 April 2007 Trakm8 Holdings PLC 2 April 2007 TRAKM8 HOLDINGS PLC ("Trakm8" or "the Group") Trakm8, the AIM-listed designer and developer of licensed GPRS based hardwareand software for the vehicle placement and security market, today announces anupdate to trading as a consequence of product rectification and preventativeactivity. A technical issue with one of Trakm8's externally sourced components affecting a limited number of around one thousand hardware units has necessitated anengineer visit to affected units for corrective and/or preventative measures.The Directors are confident that the action being taken will remedy the faultwhilst minimising customer disruption. Newly launched Trakm8 SWIFT hardwareunits are unaffected. Consequently Trakm8 has incurred and will be making necessary provisions for therectification expenditure that will have a detrimental impact on the financialresults for the year ending 31 March 2007. Trakm8 are in discussions with thesupplier to remedy the financial losses incurred and all unaffected aspects oftrading activity are performing in line with the Directors' expectations. - Ends - For further information please contact: Trakm8 plc 0870 380 0531Cary Knapton, Chief Executive OfficerTim Couling, Finance Director Tavistock Communications 020 7920 3150Simon Hudson Arbuthnot Securities 020 7012 2000Graham SwindellsPaul Vanstone About Trakm8 Trakm8, based in Shaftesbury, Dorset is the leading technology provider,designer and developer of GPRS based hardware and software to the vehicletracking and security market. The Company distributes its hardware and softwareworldwide through a network of distributors. In addition the Company providesASP vehicle monitoring and tracking services direct to the B2B market. Trakm8'sproducts allow vehicles and drivers to be monitored, allowing organisations tomanage deliveries and services, or track stolen vehicles down to 5 metres. This information is provided by RNS The company news service from the London Stock Exchange