Touchstar Plc Regulatory News (TST)

25 May 2006 07:00

Belgravium Technologies PLC25 May 2006 25 MAY 2006 BELGRAVIUM TECHNOLOGIES PLC AGM AND TRADING STATEMENT At the Annual General Meeting of Belgravium Technologies plc ("Belgravium" orthe "Company"), to be held at the offices of Teather & Greenwood Limited at 11amtoday, Chairman John Kembery will make the following statement: "Trading was slow in the first quarter of 2006 in all Belgravium companies, aregular feature in the markets we serve. There has, however, been no significantupturn in the second quarter and it has become evident that the contracts neededto achieve anticipated sales are currently taking longer to negotiate and close. In addition to a cautious market, Belgravium Limited is coming under pricepressure and we are taking steps to address the impact of this. This is muchless of a factor in Touchstar Limited ("Touchstar") and Novo IVC which areexposed to a wider range of markets and have a lower reliance on hardware salesthan Belgravium Limited. It has taken us a little longer to replenish the salespipeline at Touchstar than we originally anticipated and we have thereforefocused the necessary resource in this area. In addition, one of the majorcontracts anticipated to be won at the time of the Touchstar acquisition hasbeen deferred until next year. However, we expect Touchstar to trade well in thesecond half of the year and we remain confident that Touchstar will prove to bea successful acquisition for the Group. Whilst we are confident that the order book will convert into revenues, there isstill limited visibility for the second half of the year. It therefore appearsunlikely that the company will meet expectations for sales and profits for thefull year." For further information please contact: Buchanan Communications ltd Eric Burns/Alastair Watson 01943 883990 Belgravium Technologies plc John Kembery Mob: 07770 731021www.belgraviuminvestorrelations.com This information is provided by RNS The company news service from the London Stock Exchange