COMPANY ANNOUNCEMENT - LQS 101
This is a company announcemnet being made by the Company in complienace with Listing Rule 8.87.5 of the Listing rules:
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Iterim Directors' Statement
The Board of Directors hereby announces that since the publication of the Interim Financial Statement on 26th February 2010, covering the period 1st July to 31st December 2009, there has been no significant change in the financial position of the Compnay.
This year continues to be affected by the international economic situation and the uncertainty this generates to the business community; however where there are indications that the second half of this year should experiance moderate positive progress. Loqus has continued to maintain its client base both locally and internationally for all its range of products and services. Operational costs are currently in line with expectations; nevertheless the Company is striving to mitigate any increases to avoid negative impacts.
Items of note for the Loqus Group include the award of the LEMIS contract for the Government Property Division, already mentioned in the last financial statements. Work on this important contract commenced in February 2010. Another recently awarded contract to the Loqus Group was the Provision of online e-Forms and Related Services with MITA.
The Loqus group will continue to place emphasis on new areas of growth while focusingon key solutions and services subsidiaries. The European Research and Development Fund (ERDF) grant, awarded to Loqus at the beginning of the year, should enable the Company to place comprehensive research and product development as a central element; with the aim that our solutions remain highly competitve and technologically advanced.
Loqus will continue to explore all opportunities and remains committed to its stakeholders. The main emphasis will be on safeguarding all our operations, Strengthening out long term viability, and expanding out market presence; effectively using our knowledge to build successful solutions for all our current and future clients.
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Louis de Gabriele
Company Secretary