Touchstar Plc Regulatory News (TST)

23 May 2013

Belgravium Technologies plc ("Belgravium")

Update on Trading

John Kembery, Chairman of Belgravium Technologies plc, AIM: BVM the designer and supplier of computing solutions and services for the mobile computing market, will make the following statement at the Company's Annual General Meeting being held today.

" As indicated in my statement in the Annual Report, the Board is expecting 2013 to be another challenging year with no significant change expected in the trading conditions in our markets.

The current year has started slowly with order in-take and sales revenue being lower than anticipated. However our sales and marketing activities have developed a good pipeline of sales opportunity during the early part of 2013 and the Directors believe that the strength and content of the pipeline will bring improvements in revenue as the year progresses. 

This process will be aided by the acquisition of Feedback Data plc (FDP) as announced on 13 May and due to be completed on 31 May when approved by Feedback shareholders.

FDP operates in sectors that are new and exciting to Belgravium and the acquisition will enable both FDP and Belgravium to share and utilise their respective hardware and software capabilities. Belgravium brings a strong technical base to FDP's existing business and product ranges, We believe that with the additional resource and investment that we can provide, FDP will soon be restored to a position of profitable growth."